No tax deduction at source exemption applies to specified resident payments and FII sales of listed securities. Clause 200 provides that notwithstanding section 195, no tax shall be deducted at source in specified cases: for resident payees a range of exempt ... Summary
No tax deduction at source exemption applies to specified resident payments and FII sales of listed securities.
Clause 200 provides that notwithstanding section 195, no tax shall be deducted at source in specified cases: for resident payees a range of exempt categories including non-salary payments by non-audited individuals/HUFs, interest on government and listed dematerialised securities, certain debenture and time deposit interest subject to aggregate limits, small-amount payments, interest payable to specified financial institutions, partner interest, notified deposit schemes, government interest obligations, zero coupon bond maturity proceeds, carriage payments with PAN, and various small-value contractor, commission, rent, mutual fund distribution and life insurance payments; and for non-residents, payments to foreign institutional investors for sale of listed securities.
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