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.
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Provisions expressly mentioned in the judgment/order text.
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.
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