https://www.taxtmi.com/manuals?id=1260 Section 194LC mandates withholding on interest paid by Indian companies or business trusts to non resident persons and foreign companies on approved long term loans and bonds. Tax must be deducted at the earlier of credit or payment. Concessional withholding applies where interest does not exceed the Central Government approved rate, with specific reduced rates for rupee denominated bonds and bonds listed in an International Financial Services Centre. The enhanced withholding for failure to furnish PAN does not apply to this provision, and Rule 37BC allows a documentary alternative for certain non corporate non residents and foreign companies. en-us Mon, 05 Oct 2015 11:26:00 +0530 Fri, 19 Apr 2024 16:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1260 Section 194LC mandates withholding on interest paid by Indian companies or business trusts to non resident persons and foreign companies on approved long term loans and bonds. Tax must be deducted at the earlier of credit or payment. Concessional withholding applies where interest does not exceed the Central Government approved rate, with specific reduced rates for rupee denominated bonds and bonds listed in an International Financial Services Centre. The enhanced withholding for failure to furnish PAN does not apply to this provision, and Rule 37BC allows a documentary alternative for certain non corporate non residents and foreign companies. Manuals Income Tax Mon, 05 Oct 2015 11:26:00 +0530 https://www.taxtmi.com/manuals?id=1260