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Briefly Business:Govt notifies lower withholding tax on infra bonds

To encourage foreign investment in infrastructure sector,the government has reduced the withholding tax

Written by Press Trust Of India | Published: July 31, 2013 1:53 am

Govt notifies lower withholding tax on infra bonds

New Delhi: To encourage foreign investment in infrastructure sector,the government has reduced the withholding tax to 5 per cent on interest income on rupee denominated bonds. As per a notification issued by the Central Board of Direct Taxes,benefit of lower withholding tax will be applicable on bonds whose interest rate does not exceed 5 per cent above the base rate of SBI.

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