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of <h1>Section 393: Mandatory income-tax withholding rules, rates, exemptions, declarations, and treatment for diverse payment types and payees</h1> Section 393 mandates withholding of income-tax at source on specified payments to residents, non-residents and any payee, setting rates, thresholds and timings for deduction across categories (commission, rent, property transfers, capital market income, interest, payments to contractors, dividends, insurance payouts, e-commerce receipts, virtual digital asset transfers, gambling winnings, etc.). It prescribes different payers, rates and exemption thresholds, special rules for non-deduction, declaration procedures to claim nil deduction, precedence among provisions, treatment where payer bears tax, and deeming of credits to suspense accounts as payee credit. Certain entities and transactions are expressly exempted from withholding.
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