Exemption from PAN-based withholding provisions for interest on long-term infrastructure bonds paid to non-residents under law.

The amendment inserts a provision excluding the application of section 206AA to payment of interest on long-term infrastructure bonds referred to in section 194LC, so that the provisions of section 206AA shall not apply to such interest paid to a non-resident not being a company, or to a foreign company, effective from 1 June 2013.

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