Rate of tax applicable in respect of interest income in the case of foreign companies-Clarification regarding

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..... of interest income in the case of foreign companies-Clarification regarding. Under section 115A(1) of the Income-tax Act, 1961, income by way of interest received by a foreign company from Govt. or an Indian concern on moneys borrowed or debt incurred by the Govt. or the Indian concern in foreign currency, is chargeable to tax at the rate of 25 per cent. 2. Overseas corporate bodies with specif .....

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