Tax deduction on unit income requires withholding by any payer when income is payable to an Offshore Fund.

Tax deduction at source applies to income from units referred to in section 208 when payable to an Offshore Fund. Any person responsible for making the payment must deduct tax at a concessional rate of 10%. No monetary threshold applies. The framework retains the recipient category, deductor obligation, deduction rate and absence of a threshold applicable under the corresponding earlier provision.

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