Taxation for non residents on Indian corportae USD bonds

Shailendra Gupta (1 Points)

28 May 2022  

Hi Frineds ... I have a quick query . Many indian origin non residents who are not even Indian citizens now , routinely invest overseas in USD denominated , Euro Market , Euro clearning bonds of Indian corportaion as well their overseas registered branches. Indian Banks , refineries , oil majors etc have raised billions of dollars of debt through this route in recent years .  

My query is : Is the USD interest coupons received by a non resident ( ans non citizen) taxable in India because the bond is issued by Indian corporate ? I am referring to above types of international bonds. Thank you for your guidance .... If you can aslo refer to suitable section in IT act , it would be great help.