CBDT exempts Interest Income on Specified Off-Shore Rupee Denominated Bonds

Sep 18, 2018 | by Avantis RegTech Legal Research Team


The Central Board of Direct Taxes (CBDT) vide its Press Release dated September 17, 2018, has exempted interest payable by an Indian company or a business trust to a non-resident, including a foreign company, in respect of rupee denominated bond issued outside India during the period from 17th September, 2018 to 31st March, 2019. No tax shall be deducted on the payment of interest in respect of the said bond under Section 194LC (Income by way of interest from Indian company) of the Income-tax Act, 1961.

The legislative amendments in this regard shall be proposed in due course.

 

 URL: https://www.incometaxindia.gov.in/Lists/Press%20Releases/Attachments/730/Press-Release-Exemption-to-interest-income-17-09-2018.pdf


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