MUMBAI (Reuters) - India extended the concessional rate of 5 percent for withholding taxes on debt investments by foreign investors by two years until July 1, 2017, according to a budget document within the Finance Bill issued on Saturday.
The concessional rate of 5 percent for foreign investors was due to expire in May. India had cut the withholding tax from 20 percent to 5 percent in 2013.
(Reporting by Himank Sharma and Suvashree Dey Choudhury; Editing by Rafael Nam)
