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of <h1>Section 196D mandates 20% TDS on FII securities income with treaty rate relief available</h1> Section 196D of the Income Tax Act, 1961 mandates tax deduction at source on income from securities paid to Foreign Institutional Investors. The payer must deduct income tax at 20% at the time of credit or payment, whichever is earlier. However, if a tax treaty applies and the investor provides required certificates, the lower rate between 20% and the treaty rate applies. For specified funds, the deduction rate is 10%, with exemptions for income under section 10(4D). No tax deduction is required for capital gains from securities transfer under section 115AD.
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