Companies may find it costlier to raise funds overseas

Overseas lenders will have to pay as much as 20% tax on interest earned on loans made to Indian companies starting July 1 and are likely to pass on the costs to borrowers, according to more than a dozen executives. The increased withholding tax rate would imp…
New Delhi: India Inc's foreign borrowing costs could rise with the possible end of a decade of tax breaks that kept the external commercial borrowing (ECB) issuances market buoyant. The government is… [+3815 chars] Read More