Section 194LD of
the Income-tax Act, 1961 - Income by way of interest on certain bonds and
government securities - Notified Rates of Interest on Rupee Denominated Bond of
an Indian Company
Notification No. 56/2013, [F.NO.149/81/2013-TPL]/SO
2311(E), dated 29-07-2013
In exercise of
the powers conferred by the proviso to sub-section (2) of section 194LD of the
Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the
following rates of interest in respect of rupee denominated bond of an Indian
company, namely :-
(i) in case of
bonds issued before the 1st day of July, 2010, the rate of interest shall not
exceed 500 basis points (bps) over the Base Rate of State Bank of India as on
the lst day of July, 2010.
(ii) in case of
bonds issued on or after the 1st day of July, 2010, the rate of interest shall
not exceed 500 basis points (bps) over the Base Rate of State Bank of India
applicable on the date of issue of the said bonds.
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