Interest payable on FCCBs - Liability to TDS u/s 196C r.w.s. ...

Interest on Foreign Currency Convertible Bonds not subject to TDS u/s 196C & 115AC of Income Tax Act.

January 23, 2013

Case Laws Income Tax AT

Interest payable on FCCBs - Liability to TDS u/s 196C r.w.s. 115AC - the money borrowed was utilized for the oversees business - cannot be said to have accrued or arisen in India - No TDS liability - AT

View Source

← Previous Next →

Interest payable on FCCBs - Liability to TDS u/s 196C r.w.s. ...

Interest on Foreign Currency Convertible Bonds not subject to TDS u/s 196C & 115AC of Income Tax Act.

January 23, 2013

Case Laws Income Tax AT

You may also like:

Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

TDS u/s.196C r.w.s. 115AC on the interest payable on FCCBs - since income in question is squarely falling under the exclusion clause of income deemed to accrue or arise...

Disallowance u/s 14A - Exempted income - proportionate disallowance of interest paid by the banks for investments made in tax free bonds/ securities which yield tax free...

Interest on FDRs made out of zero coupon convertible bonds - chargeable under section 56 - AT

During The Financial Year 2012-13 - Tax-Free, Secured, Redeemable, Non-Convertible Bonds - Notification

TP Adjustment - Interest on loans and advances given to the AEs - Interest rates vary and are thus dependent on the foreign currency in which the repayment is to be made...

DRI busted Foreign Currency Smuggling Racket involving Foreign Nationals; Foreign Currencies worth ₹ 6.14 crore seized

Tax withholding liability - liability to deduct tax at source u/s 196C r.w.s. 115AC on the interest payable on FCCBs - since income in question is squarely falling under...

Deduction claimed u/s 36(1)(viii) for interest income from housing finance for non-residential purposes was disallowed, excluding such amounts from computing eligible...

The case pertains to the levy of interest u/s 234C for failure on the part of the payer to deduct tax deducted at source (TDS) u/ss 196D and 194LD. The key points are:...

The ITAT held that interest payments on Compulsorily Convertible Debentures (CCDs) denominated in Indian currency must be benchmarked against domestic interest rates,...

Interest paid on late payment of TDS - allowable deduction u/s 37(1) or not? - Interest on delayed payment of TDS cannot be allowed as deduction. - The interest...

Characterization of receipt - interest received by the assessee u/s 28 and 34 of the Land Acquisition Act, 1894 - The Delhi High Court, in a case concerning the...

Ban on High Denomination Currency and Income-tax Act

Quick Updates: