The government waives a 3-year blocking period on investments made by non-residents in IDF bonds – NewsJizz

  • Press Release|
  • < 1 minute
  • By Taxmann
  • |
  • Last Updated on 28 October, 2020

Recent Posts

News, Blog, GST & Customs

[Opinion] Whether the Intermediary Issue Stands Resolved in Light of Dismissal of Civil Appeal by the Apex Court in Chevron’s and SNQS’s Cases?

Blog, News, GST & Customs

Delhi HC Upheld Validity of Notification Levying GST on Recovery Agent Services Under RCM

Latest from Taxmann

17th September, 2019
 
Naveen Wadhwa, Deputy General Manager, Taxmann Said:
 
 

To attract extra-territorial investments to the IDF, any amount of interest received by non-resident or foreign companies from the investment in said IDF is charged at a reduced tax rate of 5 percent, said Deputy Director General of Taxmann, Naveen Wadhwa.
The IDF are investment vehicles to accelerate the flow of long-term debt to the sector.
Wadhwa said that if a non-resident transfers IDF bonds denominated in rupees to another non-resident outside India, that transfer is not considered as a transfer for capital gain purposes, and no capital gain tax is charged on said transfer.
However, all these benefits are available only when IDF is configured according to the prescribed guidelines and meets the required conditions.

 

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

Comments are closed.

«
»

Everything on Tax and Corporate Laws of India

To subscribe to our weekly newsletter please log in/register on Taxmann.com

Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied