Receipt of interest on securities without TDS by Foreign Company -Notification No. 59/2017 Dated 4th July, 2017

By | July 6, 2017
(Last Updated On: July 6, 2017)

Notification No. 59/2017 Dated 4th July, 2017

Summary : Following Notification made amendment in Rule 29B of Income Tax Rules i.e Application for certificate authorising receipt of interest and other sums without deduction of tax.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 4th July, 2017
INCOME-TAX

G.S.R. 826(E).—In exercise of the powers conferred by section 295 read with section 195 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby, makes the following rules further to amend the Income-tax Rules, 1962, namely:—

1. (1) These rules may be called the Income-tax (19th Amendment) Rules, 2017.
(2) They shall come into force from the date of their publication in the Official Gazette.

2. In the Income-tax Rules, 1962 (hereafter referred to as the Principal rules), in rule 29B, in sub-rule (1), clause (i), for the words “interest on securities” the words and brackets and figures “interest on securities (other than interest payable on securities referred to in proviso to section 193)” shall be substituted.

3. In the principal rules, in Form No. 15C, for the words “interest on securities” the words, brackets and figures “interest on securities (other than interest payable on securities referred to in the proviso to section 193)” shall be substituted.

[ Notification No. 59/2017 /F. No. 370 142/8/2017-TPL ]
LAKSHMI NARAYANAN, Under Secy. (Tax Policy and Legislation)

Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) vide notification number S.O. 969(E), dated the 26th March, 1962 and last amended vide notification number G.S.R. 821(E), dated the 03.07.2017.

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