Withholding tax on interest from IFSC listed bonds extended and a preferential lower rate applied to specified issuances. Amendment to section 194LC inserts a proviso requiring withholding on interest covered by new clause (ib) at a lower preferential rate; extends the concessional withholding period for interest on borrowings under loan agreements, long term bonds and rupee denominated bonds to 1 July 2023; and adds clause (ib) to cover long term bonds or rupee denominated bonds issued from 1 April 2020 to 1 July 2023 that are listed only on a recognised stock exchange in an International Financial Services Centre, with corresponding explanatory definitions.