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    <title>Notification for Non-Deduction of Tax at Source on Specified Payments to New Development Bank under the provisions Income-tax Act, 2025</title>
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    <description>Non-deduction of tax at source applies to interest payments made by the New Development Bank to qualifying holders of Maharajah INR Bonds issued during tax year 2026-27 and later tax years. Qualifying holders are residents or Foreign Institutional Investors. The Bank must furnish prescribed information under the applicable reporting schedule and Income-tax Rules, 2026, and the arrangement takes effect on publication in the Official Gazette.</description>
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      <description>Non-deduction of tax at source applies to interest payments made by the New Development Bank to qualifying holders of Maharajah INR Bonds issued during tax year 2026-27 and later tax years. Qualifying holders are residents or Foreign Institutional Investors. The Bank must furnish prescribed information under the applicable reporting schedule and Income-tax Rules, 2026, and the arrangement takes effect on publication in the Official Gazette.</description>
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