Section - 194LD - Income by way of interest on certain bonds and Government securities
Income by way of interest on certain bonds and Government securities.194LD. (1) Any person who is responsible for paying to a person being a Foreign Institutional Investor or a Qualified Foreign Investor, any income by way of interest referred to in sub-section (2), shall, at the time of credit of such income to the account of the payee or at the time of payment of such income in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rate of five per cent.(2) The income by way of interest referred to in sub-section (1) shall be the interest payable,-
(a)
-
on or after the 1st day of June, 2013 but before the 1st day of July, 2023 in respect of the investment made by the payee in-
(i)
-
a rupee denominated bond of an Indian company; or
(ii)
-
a Government security;
.... To read the full section download the app from Google Play store
CAclubindia
