Income Tax: The CBDT has notified nil TDS under section 393 of the Income-tax Act, 2025 on interest paid by the New Development Bank (NDB) to holders of its Maharajah INR Bonds who are residents or Foreign Institutional Investors under section 210(6). NDB must furnish the prescribed information under Schedule VII to the Act. The relief covers payments from tax year 2026-27 onwards and takes effect from 19 October 2026. (21.10.2026)

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Income Tax:

The CBDT has notified nil TDS under section 393 of the Income-tax Act, 2025 on interest paid by the New Development Bank (NDB) to holders of its Maharajah INR Bonds who are residents or Foreign Institutional Investors under section 210(6). NDB must furnish the prescribed information under Schedule VII to the Act. The relief covers payments from tax year 2026-27 onwards and takes effect from 19 October 2026.

[Notification No. 136/2026 dated 19-10-2026]