Thomas Inc. of Australia borrowed money from various companies in Australia for doing business in India by the name ANS Co. Ltd., Mumbai. Thomas Inc. paid interest of ₹ 500 lakhs (converted) to various lenders. The amount of interest paid:

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Question:Thomas Inc. of Australia borrowed money from various companies in Australia for doing business in India by the name ANS Co. Ltd., Mumbai. Thomas Inc. paid interest of ₹ 500 lakhs (converted) to various lenders. The amount of interest paid:

1.has accrued in India

2. is exempt from tax

3.does not accrue in India

4. is taxable in Australia

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  1. Thomas Inc. of Australia borrowed money from various companies in Australia for doing business in India by the name ANS Co. Ltd., Mumbai. Thomas Inc. paid interest of ₹ 500 lakhs (converted) to various lenders. The amount of interest paid:
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