Commercial Papers (CPs) and Certificates of Deposits (CDs)--Applicability of provisions of section 194A of the Income-tax Act, 1961--Clarification regarding

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....egarding Circular No. 647 Dated 22/3/1993 The Certificates of Deposit (CDs) and the Commercial Papers (CPs) are money-market related instruments which are traded in the secondary market. These are negotiable instruments in the nature of usance promissory notes which are issued and regulated in accordance with the instructions/guidelines issued by the Reserve Bank of India from time to tim....