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 ... Summary
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.
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