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Borrowing from a non-resident

This query is : Resolved 

I want to ask about the interest rate(or the provisions) which would be applicable in case of an Indian resident borrowing from a non-resident in USD. Also any income tax provision applicable other than TDS .


Borrowings from overseas have to be in compliance with the applicable ECB guidelines / provisions contained in the Foreign Exchange Management (Borrowing and Lending in Foreign Exchange) Regulations, 2018 issued vide Notification No. FEMA 3 (R)/2018-RB dated December 17, 2018, as amended from time to time.
No income tax other than TDS.


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