https://www.taxtmi.com/acts?id=23559 A new provision restricts deductibility of interest paid to associated non-resident lenders by Indian companies and permanent establishments: interest exceeding the lesser of thirty per cent of EBITDA or interest payable to associated enterprises is treated as excess interest and disallowed. Debts guaranteed by or funded via associated enterprises are deemed issued by associated enterprises. Banking and insurance businesses are excluded. Undeducted excess interest may be carried forward up to eight assessment years, and key terms associated enterprise, debt, and permanent establishment are defined for application. en-us Wed, 01 Feb 2017 17:51:41 +0530 Thu, 02 Feb 2017 16:49:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=23559 A new provision restricts deductibility of interest paid to associated non-resident lenders by Indian companies and permanent establishments: interest exceeding the lesser of thirty per cent of EBITDA or interest payable to associated enterprises is treated as excess interest and disallowed. Debts guaranteed by or funded via associated enterprises are deemed issued by associated enterprises. Banking and insurance businesses are excluded. Undeducted excess interest may be carried forward up to eight assessment years, and key terms associated enterprise, debt, and permanent establishment are defined for application. Act-Rules Bill Wed, 01 Feb 2017 17:51:41 +0530 https://www.taxtmi.com/acts?id=23559