Tata Capital is nearing its ₹17,200 crore IPO launch as SEBI has cleared its draft papers. The IPO, one of the largest in the financial sector, includes a fresh share issue and an offer for sale by Tata Sons.
FCNR(B) hurdle: Singapore holds ground on withholding tax
Given the spread between interest offered on FCNR deposits and interest charged on loans, a 10% WTH on loan interest on tax grossed-up basis would