https://www.taxtmi.com/acts?id=38279 The amendment exempts from the statutory interest deduction limitation any interest paid in respect of debt issued by a lender which is a permanent establishment in India of a non resident engaged in banking. Thus, the limitation on deductibility of interest payable to associated non resident lenders will not apply where the lender is a banking permanent establishment in India; the change is prospective and applies from the fiscal year specified in the amendment. en-us Sat, 01 Feb 2020 16:48:08 +0530 Sat, 01 Feb 2020 16:48:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=38279 The amendment exempts from the statutory interest deduction limitation any interest paid in respect of debt issued by a lender which is a permanent establishment in India of a non resident engaged in banking. Thus, the limitation on deductibility of interest payable to associated non resident lenders will not apply where the lender is a banking permanent establishment in India; the change is prospective and applies from the fiscal year specified in the amendment. Act-Rules Bill Sat, 01 Feb 2020 16:48:08 +0530 https://www.taxtmi.com/acts?id=38279