Withholding tax on specified unit income requires deduction from non-resident payments, subject to lower agreement rates on prescribed conditions.

Tax deduction at source applies to income from specified Mutual Fund units or units of a specified company payable to a non-resident other than a company or a foreign company. Any person responsible for payment must deduct tax at 20%, subject to application of a lower agreement rate where the recipient qualifies and furnishes the prescribed certificate. No monetary threshold applies, and deduction is made at the earlier of credit or payment.

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