Withholding on interest for specified rupee bonds, government and municipal securities capped by notified rate until July 2023. Substitution of sub-section (2) narrows withholding to interest payable on rupee denominated bonds of Indian companies and Government securities from 1 ... Summary
Withholding on interest for specified rupee bonds, government and municipal securities capped by notified rate until July 2023.
Substitution of sub-section (2) narrows withholding to interest payable on rupee denominated bonds of Indian companies and Government securities from 1 June 2013 to before 1 July 2023, and to municipal debt securities from 1 April 2020 to before 1 July 2023; proviso caps bond interest at a rate to be notified by the Central Government. An Explanation adds a definition of "municipal debt securities" by reference to the SEBI Regulations, 2015.
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