Clarification on continuation of concessional rate of tax on certain interest income of the FPIs

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..... Clarification on continuation of concessional rate of tax on certain interest income of the FPIs
News and Press Release
Dated:- 18-3-2021

Section 115AD of the Income-tax Act, 1961 (the ' .....

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..... Act') inter alia contains provisions for taxation of income of FPIs. Proviso to section 115AD(1)(i) provides that the tax shall be chargeable at the concessional rate of 5% on interest income referred .....

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..... to in section 194LD. There are reports in certain section of media that the said concessional tax rate of 5% has been withdrawn. It is hereby clarified that there is no change in the said proviso ev .....

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..... en after amendment of section 115AD vide Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 and the concessional rate of tax of 5% shall continue to be applicable for i .....

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..... nterest income referred to in section 194LD of the Act.
News - Press release - PIB .....

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