Thursday, October 27, 2016

section 194 lb of income tax act


Section - 194 LB , Income-tax Act, 1961-2016


Income by way of interest from infrastructure debt fund.

194LB. Where any income by way of interest is payable to a non-resident, not being a company, or to a foreign company, by an infrastructure debt fund referred to in clause (47) of section 10, the person responsible for making the payment shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rate of five per cent.

Payment of interest on infrastructure debt fund

Source
www.incometaxindia.gov.in

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