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The Central Government notifies the interest rates for rupee denominated bonds of an Indian company under section 194LD of the Income-tax Act, 1961. For bonds issued before 2010-07-01, the rate of interest does not exceed 500 basis points over the Base Rate of State Bank of India as on 2010-07-01. For bonds issued on or after 2010-07-01, the rate of interest does not exceed 500 basis points over the Base Rate of State Bank of India applicable on the date of issue.
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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART II, SECTION 3, SUB-SECTION (ii)]
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
INCOME-TAX
New Delhi, the 29 th day of July, 2013
S.O. 2311 (E).- 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 :-
[Notification No. 56 /2013/F.No.149/81/2013-TPL]
[Amit Katoch] Under Secretary to Government of India
