TDS on securitisation trust: timing, deemed credit rules and specified withholding rates with low nil deduction notification. Section 194LBC requires securitisation trusts to deduct tax at the time of payment or credit, whichever is earlier, applies specified withholding rates for resident, non resident and foreign company payees for prescribed periods, and treats income credited to any account (including a suspense account) as deemed credited to the payee for withholding purposes. A government notification exempts payments under clause (23DA) of section 10 received by securitisation trusts from deduction under Chapter XVII, permitting low or nil deduction where applicable.