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sec 9(1)(v)

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(Querist)
04 June 2009 can u please explain it experts
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Radheyshyam Falod

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Radheyshyam Falod (Expert)
10 June 2009 9. (1) The following incomes shall be deemed56 to accrue or arise in India :—

(v) income by way of interest payable by—

(a) the Government ; or

(b) a person who is a resident, except where the interest is payable in respect of any debt incurred, or moneys borrowed and used, for the purposes of a business or profession carried on by such person outside India or for the purposes of making or earning any income from any source outside India ; or

(c) a person who is a non-resident, where the interest is payable in respect of any debt incurred, or moneys borrowed and used, for the purposes of a business or profession carried on by such person in India ;

Inserted via finance act 1976 w. e. f 1-6-1976
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Radheyshyam Falod

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Radheyshyam Falod (Expert)
10 June 2009 9. (1) The following incomes shall be deemed56 to accrue or arise in India :—

(v) income by way of interest payable by—

(a) the Government ; or

(b) a person who is a resident, except where the interest is payable in respect of any debt incurred, or moneys borrowed and used, for the purposes of a business or profession carried on by such person outside India or for the purposes of making or earning any income from any source outside India ; or

(c) a person who is a non-resident, where the interest is payable in respect of any debt incurred, or moneys borrowed and used, for the purposes of a business or profession carried on by such person in India ;

Inserted via finance act 1976 w. e. f 1-6-1976
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