Category : Economy & Banking
 The Central Board of Direct Taxes (CBDT) announced that no withholding tax will apply on interest payments made by an Indian company or a business trust to a non-resident in respect of offshore rupee-denominated bonds issued between September 17, 2018 and March 31, 2019. The move is expected to incentivise foreign exchange inflows into India through low-cost offshore rupee-denominated bonds, popularly referred to as masala bonds. Legislative amendments in this regard will be done in due course. |
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Source- The Hindu Business Line
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