Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: list of goods taxed at 4% :: articles on VAT and GST in India :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: VAT RATES :: TDS :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD
 
 
Direct Tax »
  CBDT to waive interest if tax demand paid in retro cases
 No relief to those who defaulted on 1st IDS installment: CBDT
 6 tax tasks you should finish by March 31
 CBDT to waive interest if tax demand paid in retro cases
 CBDT to waive interest if tax paid in retrospective cases
 New move to settle retrospective tax cases, CBDT offers interest liability waiver to firms
 I-T department guidelines for interest waiver in specific cases offer tax relief
 ICDS provisions to prevail over judicial precedents: CBDT
 CBDT forms committee to check absconding I-T dept officers
 Central Board of Direct Taxes asks taxman to make all out efforts to recover arrears
 CBDT to honour honest taxpayers

Government cuts withholding tax on rupee infrastructure bonds
October, 23rd 2012

Government is seeking to boost investment by slashing its withholding tax on rupee-denominated infrastructure bonds to 5 percent from 20 percent, a Finance Ministry document seen by Reuters shows.

The lower tax will apply to bonds issued from July 1, 2012 to June 30, 2015, according to the official document sent to banks on Monday. Eligible bonds under this scheme should have an original maturity of three years or more, the document showed.

Foreign investors would need to remit funds in foreign currency to be able to buy the rupee infrastructure debt, a senior government official and a custodian banking head at a foreign bank told Reuters.

The action matches the government's cut in the withholding tax on dollar-denominated infrastructure bonds - which applied to interest payments by Indian borrowers - and on external commercial borrowings, both of which were implemented earlier this year.

The government has given prominence in its latest economic and fiscal reforms to repairing India's sagging infrastructure, including establishing a National Investment Board to speed up clearance for projects.

Frequent power cuts, poor roads and an antiquated railway network have impeded India's economic development. In July, a collapse in three transmission grids cut power to 670 million people.

Foreign investment into infrastructure bonds had lagged this year as overseas investors complained of poor returns after paying the previous withholding tax of 20 percent.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions