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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 195 Amended: Tax Deduction Required on Capital Gains for Non-Indian Companies Not Meeting Dividend Rules</h1> Section 195 of the Income-tax Act is amended to include a new proviso in sub-section (1). This proviso mandates that income tax must be deducted from any sum representing income under the 'Capital gains' head, specifically for capital assets other than short-term capital assets. This applies when the payment is made to a company that is neither an Indian company nor one that has made the required arrangements for declaring and paying dividends within India. The deduction amount should equal the income tax calculated as per clause (i) of section 115.
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