Amendment of section 194LC

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....wing proviso shall be inserted, namely:-                "Provided that where a non-resident (not being a company) or a foreign company has deposited any sum of money in foreign currency in a designated account through which such sum, as converted in rupees, is utilised by the non-resident or the foreign company, as the case m....

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....ng-term infrastructure bonds issued by it;'. - Clause 43 of the Bill seeks to amend section 194LC of the Income-tax Act relating to income by way of interest from Indian company.     The existing provisions of sub-section (2) of the aforesaid section 194LC provide the nature of borrowings, interest on which would be eligible for concessional rate of tax (at the rate of fi....