Income by way of interest from Indian company.

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....son responsible for making the payment, shall at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct the income-tax thereon at the rate of five per cent. 8[Provided that in case of income by way of interest referred to clause (ib) of sub-section (2), the income-t....

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....ng-term infrastructure bond at any time on or after the 1st day of October, 2014 but before the 5[1st day of July, 9[2023]], as approved by the Central Government in this behalf; 6[or]] 7[(ia) in respect of monies borrowed by it from a source outside India by way of issue of rupee denominated bond before the 1st day of July, 10[2023, or]] 11[(ib) in respect of monies borrowed by it from a so....

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.... Explanation.-For the purpose of this section- (a)  "foreign currency" shall have the meaning assigned to it in clause (m) of section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999); (b)  "specified company" means an Indian company.] 12[(c) "International Financial Services Centre" shall have the meaning assigned to it in clause (q) of section 2 of the Special Economic ....

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....agreement; or (b)  by way of issue of long-term infrastructure bonds, as approved by the Central Government in this behalf; and" 5. Substituted vide Section 68 of the Finance Act, 2017 w.e.f. 01-04-2018 before it was read as, "1st day of July, 2017" 6. Substituted vide Section 68 of the Finance Act, 2017 w.e.f. 01-04-2018 before it was read as, ....