Interest on dematerialised listed securities now falls within the proviso to the withholding provision for interest payments. The amendment inserts a proviso clause specifying that interest payable on securities issued by a company, where the security is in dematerialised form ... Summary
Interest on dematerialised listed securities now falls within the proviso to the withholding provision for interest payments.
The amendment inserts a proviso clause specifying that interest payable on securities issued by a company, where the security is in dematerialised form and is listed on a recognised stock exchange in accordance with the Securities Contracts (Regulation) Act and rules, is encompassed within the proviso to section 193, thereby defining the proviso's applicability to dematerialised listed securities.
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