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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Amendment to Section 194LD extends 5% concessional tax on interest income from bonds to July 1, 2020.</h1> Clause 68 of the Finance Bill, 2017 proposes an amendment to section 194LD of the Income-tax Act. The amendment extends the concessional withholding tax rate of five percent on interest income from certain bonds and Government securities. Originally applicable to interest payable from June 1, 2013, to July 1, 2017, the amendment extends the period to July 1, 2020. This change takes effect from April 1, 2018, impacting the assessment year 2018-2019 and subsequent years.