Whether interest on interest redeposited is also entitled for concessional tax rate u/s 115H ?

Print PDF

Recently Madras High Court in the case of Dr. M MANOHAR(Appeal No 759 of 2004) decided an important question ” Whether the interest on the deposit made out of the interest income also qualified for concessional rate as the investment income derived from foreign exchange asset, since the same is traceable to the foreign exchange…