Section 194LC - Income by way of interest from long term bonds and loans from Indian companies

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..... 2. Applicability Where any income by way of interest referred to in section 194LC(2) is payable to a non-resident, not being a company or to a foreign company by a specified company or a business trust, the person responsible for making the payment. The purpose of eligibility under the section 194LC , shall be as approved by the Central Government. Approval of loan agreements/ long term infrastruc .....

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..... ut before 1-10-2014, or (c) by way of issue of any long-term bond including long-term infrastructure bond at any time on or after 1-10-2014 but before 1-7-2023 (extended) as approved by the Central Government in this behalf, and (b) in respect of monies borrowed by it from a source outside India by way of issue of rupee denominated bond before the 1-7-2023 (extended) , and [ Inserted by FA, 2017 , .....

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..... t in this behalf, having regard to the terms of the loan or the bond and its repayment. Non-Applicability of higher rate of TDS u/s 206AA for non furnishing of PAN [ Section 206AA(7) Read with Rule 37BC ] Any person entitled to receive any sum or income or amount, on which tax is deductible under Chapter XVIIB shall furnish his Permanent Account Number to the person responsible for deducting such .....

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