TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 196A mandates 20% tax deduction on non-resident income from mutual funds unless lower treaty rate applies</h1> Section 196A of the Income Tax Act, 1961 mandates tax deduction at source on income paid to non-residents from mutual fund units and specified companies. The payer must deduct 20% tax at the time of credit or payment, whichever is earlier. However, if a tax treaty applies and the payee provides required certificates, the lower rate between 20% and the treaty rate applies. Non-resident Indians are exempt from this deduction for Unit Trust of India units acquired through foreign currency or Non-resident External Accounts, subject to Foreign Exchange Management Act compliance.
TaxTMI 
