Instructions for deduction of tax at source from insurance commission during financial year 1973-74 at the rates specified in Part II of First Schedule to Finance Act, 1973

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....n during financial year 1973-74 at the rates specified in Part II of First Schedule to Finance Act, 1973 1. In partial modification of Ministry of Finance (Department of Revenue and Insurance) Circular No. 112 [F. No. 275/64/73-ITJ], dated 31-5-1973 it is hereby clarified that the provisions of section 194D inserted by the Finance Act, 1973, providing for deduction of income-tax at source from ....

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....p;         3. Although there is no specific provision for deduction of tax at source from insurance commission paid to a non-resident, tax from such payments made to a non-resident, not being a company, or to a company which is neither an Indian company nor a company which has made the arrangements as prescribed by rule 27 for the declaration and payment of divid....