Reduction in withholding rate under section 244A replaces the previously prescribed rate in clauses (a) and (b).

The amendment substitutes the rate wording in section 244A(1), replacing "two-third per cent." with "one-half per cent." in clauses (a) and (b), effected by the Taxation Laws (Amendment) Act, 2003; the change is a textual reduction of the rate in those two sub-clauses and does not modify other provisions of section 244A.

---

---

---