14 November 2019
I want to ask about the interest rate(or the provisions) which would be applicable in case of an Indian resident borrowing from a non-resident in USD. Also any income tax provision applicable other than TDS .
14 November 2019
Borrowings from overseas have to be in compliance with the applicable ECB guidelines / provisions contained in the Foreign Exchange Management (Borrowing and Lending in Foreign Exchange) Regulations, 2018 issued vide Notification No. FEMA 3 (R)/2018-RB dated December 17, 2018, as amended from time to time. No income tax other than TDS.
CAclubindia
