Income in respect of units of non-residents

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....ny referred to in the Explanation to clause (35) of section 10] shall, at the time of credit of such income to the account of the payee or at the time of payment thereof 6[by any mode], whichever is earlier, deduct income-tax thereon at the rate of twenty per cent : 8[Provided that where an agreement referred to in sub-section (1) of section 90 or sub-section (1) of section 90A applies to the pay....

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....h the provisions of 3[the Foreign Exchange Management Act, 1999 (42 of 1999) ], and the rules made thereunder. Explanation.-For the purposes of this section- (a) "foreign currency" shall have the meaning assigned to it in 4[the Foreign Exchange Management Act, 1999 (42 of 1999)]; (b) "non-resident Indian" shall have the meaning assigned to it in clause (e) of section 115C;....

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..... 2. Inserted by the Finance Act, 2003, w.e.f. 1-4-2003. Earlier the proviso was inserted by the Finance Act, 1999, w.e.f. 1-6-1999 and later on omitted by the Finance Act, 2002, w.e.f. 1-6-2002. 3. Substituted vide Finance Act, 2013 w.e.f. April 1, 2014, before it was read as "the Foreign Exchange Regulation Act, 1973 (46 of 1973)". 4. Substituted vide Finance Act, 2013 w.e.f. April 1, 2014, b....