Wealth Maximization Fund Limited had paid an amount of interest of ₹20 lakh in respect of money borrowed outside India on rupee denominated bonds to a foreign Institutional Investor. Wealth Maximization Fund Limited is r
CS Executive · Tax Laws · PYQS · December 2019
Wealth Maximization Fund Limited had paid an amount of interest of ₹20 lakh in respect of money borrowed outside India on rupee denominated bonds to a foreign Institutional Investor. Wealth Maximization Fund Limited is required to deduct tax at source out of such payment of interest on these bonds at the rate of __________ .
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Income Tax Act, 1961
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