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of <h1>Tax Deduction Rules for FIIs: Section 196D Outlines TDS Rates, Exemptions, and Tax Agreement Implications</h1> Section 196D addresses the tax deduction at source (TDS) on income from securities for foreign institutional investors (FIIs). A 20% tax is deducted for FIIs, while a 10% rate applies to specified funds, with additional surcharges and cess. Tax agreements under sections 90 or 90A may lower these rates. No TDS is required on capital gains from securities transfers for FIIs. Tax is deducted upon credit or payment, whichever is earlier. 'Specified funds' include certain registered investment funds and offshore banking units. Dividend income is exempt from TDS, and higher surcharge rates do not apply to dividend income under Section 196D.
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