Tax collection at source required on specified receipts, with prescribed rates and timing, and limited exemptions. Clause 394 mandates collection of tax at source by specified persons on enumerated receipts, fixing responsible collectors, applicable rates and the time of collection as the earlier of debit to the buyer's account or actual receipt. The provision lists transaction categories and rates, and establishes exemptions where a resident buyer furnishes a prescribed declaration for non trading use, procedural filing of that declaration with the tax commissioner, non collection where a seller has already collected for overlapping receipts, and non collection where the buyer is otherwise required to deduct tax and has done so.