Notification no. 88/2015 [F.No. 503/5/2005-FTD-II] dated 2.12.2015
Indian Govt. has notified new DTAA with Thailand. Old DTAA would cease to have effect from 1.4.2016. New DTAA has reduced the tax rate on royalty from 15% to 10%. Rate of tax on interest was 10% and 25% under the old DTAA. Now the new DTAA has prescribed uniform tax rate of 10% on all interest payments. It also incorporates separate Article on Limitation of Benefit clause.