Confusion cleared! CBDT issues clarification over debt interest income of FPIs
Clearing the air, the Income Tax Department has said that foreign portfolio investors (FPIs) will continue to enjoy five per cent withholding tax on debt interest income
The clarification by the Central Board of Direct Taxes (CBDT) came on Wednesday after a few reports claimed that the concessional withholding tax rate of 5 per cent on interest income of FPIs has been withdrawn.