Withholding tax cut for rupee-denominated bonds to apply for old investments

Finance Ministry officials have told NDTV, the reduction in the rate of withholding tax will also apply to those rupee-denominated government securities (G-sec) and corporate bond investments, which the foreign institutional investors (FIIs) or the qualified foreign investors (QFIs) have transacted before June 1, 2013. Finance Minister P Chidambaram has cut withholding tax on interest earned by FIIs as well as QFIs on investment...