Section 393(2); Table [For Payments to Non-Resident]-Interest on Rupee Denominated Bonds

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.... Nature of payment Recipient Deductor Rate of TDS 3 Interest payable in respect of moneys borrowed from a source outside India by way of issue of rupee denominated bonds before 1st July, 2023 Non-resident (other than a company) or a foreign company Indian company or Business Trust 5% Scope of the provision This clause applies to interest paya....

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....duction of tax at source. Note 1-- Approved Rate of Interest The interest shall be regarded as income only to the extent it does not exceed the rate of interest approved by the Central Government, having regard to the terms of the loan or bond and its repayment. Accordingly, the concessional TDS rate is applicable only to the interest computed at the approved rate. Practical distinct....

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.... Nature of payment Interest on moneys borrowed from a source outside India through issue of rupee denominated bonds before 1 July 2023 Interest on rupee denominated bonds issued by an Indian company or Business Trust Recipient Non-resident (other than a company) or foreign company Foreign Institutional Investor (FII), Qualified Foreign Investor (QFI) (where applicable....