Budget 2017 - 18- Extension of eligible period of concessional tax rate under section 194LD
The existing provisions of section 194LD of the
Act, provides for lower TDS at the rate of five per cent. in the case of
interest payable at any time on or after 1st June, 2013 bue before the 1st July
, 2017 to FIIs and QFIs on their investments in Government securities and rupee
denominated corporate bonds provided that the rate of interest does not exceed
the rate notified by the Central Government in this behalf.
Considering the
representations received from stakeholders, it is proposed to amend section
194LD to provide that the concessional rate of five per cent. TDS on interest
will now be available on interest payable before the 1st July , 2020.
This
amendment will take effect from 1st April, 2018 and will, accordingly , apply
in relation to the assessment year 2018-19 and subsequent years. [Clause 68]
No comments:
Post a Comment