Loan Agreements / Long Term Infrastructure Bonds and Rate of Interest for the Purpose of Section 194 LC of the Income-Tax Act, 1961 Approved; Interest Income of a Non-Resident Investor to be taxed at the reduced rate of 5 per cent instead of the existing rate of 20 per cent and withhold Tax on such Income to be also at the Reduced Rate of 5 per cent.

Loan Agreements / Long Term Infrastructure Bonds and Rate of Interest for the Purpose of Section 194 LC of the Income-Tax Act, 1961 Approved; Interest Income of a Non-Resident Investor to be taxed at the reduced rate of 5 per cent instead of the existing rate of 20 per cent and withhold Tax on such Income to be also at the Reduced Rate of 5 per cent. https://www.taxtmi.com/news?id=3798 Interest paid to a non resident on foreign currency borrowings under loan agreements or long term infrastructure bonds is taxable and subject to withholding at a reduced rate introduced by the Finance Act, 2012, subject to borrowings falling within the specified implementation period and being approved. General approval is extended to borrowings that comply with External Commercial Borrowing regulations; for infrastructure bonds the proceeds must be used for infrastructure end uses. Detailed conditions and procedures are set out in the CBDT circular dated 21/09/2012. en-us Fri, 21 Sep 2012 18:06:41 +0530 Fri, 21 Sep 2012 18:06:41 +0530 TaxTMI RSS Generator Loan Agreements / Long Term Infrastructure Bonds and Rate of Interest for the Purpose of Section 194 LC of the Income-Tax Act, 1961 Approved; Interest Income of a Non-Resident Investor to be taxed at the reduced rate of 5 per cent instead of the existing rate of 20 per cent and withhold Tax on such Income to be also at the Reduced Rate of 5 per cent. https://www.taxtmi.com/news?id=3798 Interest paid to a non resident on foreign currency borrowings under loan agreements or long term infrastructure bonds is taxable and subject to withholding at a reduced rate introduced by the Finance Act, 2012, subject to borrowings falling within the specified implementation period and being approved. General approval is extended to borrowings that comply with External Commercial Borrowing regulations; for infrastructure bonds the proceeds must be used for infrastructure end uses. Detailed conditions and procedures are set out in the CBDT circular dated 21/09/2012. News - Fri, 21 Sep 2012 18:06:41 +0530 https://www.taxtmi.com/news?id=3798