Interest on Compulsorily Convertible Debentures Allowed u/s 36(1)(iii) for Tax Purposes Due to Debt Classification.

Interest on Compulsorily Convertible Debentures Allowed u/s 36(1)(iii) for Tax Purposes Due to Debt Classification. https://www.taxtmi.com/highlights?id=48594 Allowability of interest on Compulsorily Convertible Debentures (CCDs) for period before conversion - RBI policy of FDI is governed by future repayment obligation and CCDs does not have any repayment obligation, hence considered by RBI as equity for FDI policy - CCDs holder neither eligible to voting nor dividend till its conversion hence CCDs are to be considered as Debt only and interest is allowable u/s 36 (1)(iii) en-us Mon, 12 Aug 2019 07:55:53 +0530 Sat, 10 Aug 2019 13:57:48 +0530 TaxTMI RSS Generator Interest on Compulsorily Convertible Debentures Allowed u/s 36(1)(iii) for Tax Purposes Due to Debt Classification. https://www.taxtmi.com/highlights?id=48594 Allowability of interest on Compulsorily Convertible Debentures (CCDs) for period before conversion - RBI policy of FDI is governed by future repayment obligation and CCDs does not have any repayment obligation, hence considered by RBI as equity for FDI policy - CCDs holder neither eligible to voting nor dividend till its conversion hence CCDs are to be considered as Debt only and interest is allowable u/s 36 (1)(iii) Highlights Income Tax Mon, 12 Aug 2019 07:55:53 +0530 https://www.taxtmi.com/highlights?id=48594