Amendment status not verified — confirm the current text below against the official source.
Where any income by way of interest or dividends in respect of bonds or Global Depository Receipts referred to in section 115AC or by way of long-term capital gains arising from the transfer of such bonds or Global Depository Receipts is payable to a non-resident, the person responsible for making the payment shall, at the time of credit of such income to the account of the payee or at the time of payment thereof [by any mode], whichever is earlier, deduct income-tax thereon at the rate of ten per cent. [x x x x] See rules 30, 31, 31A, 37BA and 37BB and Form Nos. 15CA, 15CB, 16A, 24G, 26B, 27A and 27Q. See rules 30, 31, 31A, 37BA and 37BB and Form Nos. 15CA, 15CB, 16A, 24G, 26B, 27A and 27Q. Substituted for "in cash or by the issue of a cheque or draft or by any other mode" by the Act No. 12 of 2020, w.e.f. 01/04/2020. Omitted by the Act No. 12 of 2020, w.e.f. 01/04/2020.