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Section - 194LD – Extension of eligible period of concessional tax rate-

 

The existing provision provides for TDS at 5% in case of interest payable on or after 01.06.2013 but before 01.07.2017 to FIIs and QFIs on their investments in Government securities and Rupee denominated corporate bonds if the rate of interest is within the rate notified by the Central Government. The amendment seeks to provide that the concessional rate will continue to apply on interest payable before 01.07.2020.

 

The amendment will be effective from 1st April 2018 relevant to assessment year 2018-19.


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