Tax withholding on interest: exclusion for infrastructure debt fund zero coupon bond income from deduction under section 194A. The amendment inserts infrastructure debt fund into clause (x) of sub section (3) so that the non application of the withholding rule for interest other than interest on securities covers income relating to zero coupon bonds issued by an infrastructure debt fund, thereby excluding that income from deduction of tax at source under the relevant interest withholding provision; the amendment takes effect from the start of the fiscal year beginning on the first day of April 2021.
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Provisions expressly mentioned in the judgment/order text.
Tax withholding on interest: exclusion for infrastructure debt fund zero coupon bond income from deduction under section 194A.
The amendment inserts infrastructure debt fund into clause (x) of sub section (3) so that the non application of the withholding rule for interest other than interest on securities covers income relating to zero coupon bonds issued by an infrastructure debt fund, thereby excluding that income from deduction of tax at source under the relevant interest withholding provision; the amendment takes effect from the start of the fiscal year beginning on the first day of April 2021.
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