Withholding tax on interest from infrastructure debt funds must be deducted on credit or payment to non-residents. Insertion of section 194LB requires the person responsible for payment by an infrastructure debt fund to deduct income-tax at the rate of five per cent on interest payable to a non-resident individual or a foreign company, with deduction occurring at the earlier of credit to the payee's account or payment by cash, cheque, draft or any other mode, effective from 1st June, 2011.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Withholding tax on interest from infrastructure debt funds must be deducted on credit or payment to non-residents.
Insertion of section 194LB requires the person responsible for payment by an infrastructure debt fund to deduct income-tax at the rate of five per cent on interest payable to a non-resident individual or a foreign company, with deduction occurring at the earlier of credit to the payee's account or payment by cash, cheque, draft or any other mode, effective from 1st June, 2011.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
