Amendment of section 194LD of the Act to extend the period of concessional rate of withholding tax and also to extend this concessional rate to municipal debt securities.
1 February, 2020
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Concessional withholding tax extended and applied to municipal debt, enabling foreign investor interest relief within a renewed operative window. Amendment to section 194LD extends the concessional withholding tax regime and applies the concessional rate to interest on municipal debt securities by ... Summary
Concessional withholding tax extended and applied to municipal debt, enabling foreign investor interest relief within a renewed operative window.
Amendment to section 194LD extends the concessional withholding tax regime and applies the concessional rate to interest on municipal debt securities by Foreign Institutional Investors and Qualified Foreign Investors, preserving the reduced TDS rate for eligible interest payments and changing the operative period so that interest paid within the newly prescribed window qualifies for the concession, with the amendment taking effect from the start of the specified fiscal period.
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