Tag Archives: section 9(1)

No TDS on Interest on FCCB issued to foreign investors and utilized for verseas business

Where assessee issued FCCB to foreign investors and remitted interest to them, since said money was utilized for overseas business of assessee, no income could be said to have accrued or arisen in India in hands of non-resident investors and, therefore, no TDS was deductible IN THE ITAT AHMEDABAD BENCH ‘A’ Assistant Director of Income-tax… Read More »