Amendment of section 194LC

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....nserted;           (B) in sub-section (2),--           (a) in the opening portion, after the words "by the specified company", the words "or the business trust" shall be inserted;           (b) for clause (i), the following clause shall be substituted, nam....

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....rnment in this behalf; and". - Clause 57 of the Bill seeks to amend section 194LC of the Income-tax Act relating to income by way of interest from Indian company.           Under the existing provisions of the aforesaid section, the beneficial provision of lower rate of withholding tax is available on payment made by an Indian company subject to....

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....ther provides that the borrowing should be made at any time on or after the 1st day of July, 2012 but before the 1st day of July, 2015.           It is proposed to amend sub-section (2) of the aforesaid section to provide that the borrowings can be made before 1st July, 2017 instead of currently provided cut-off date of 1st July,   &nbsp....