Amendment to Section 194LBB: TDS on Investment Fund Income Set at 10% for Residents, Current Rates for Non-Residents.

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Full Text of the Document

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....Amendment of section 194LBB. - TDS relating to income in respect of units of investment fund. - It is proposed to amend the said section so as to provide that the income-tax on such payment shall be deducted – (i) at the rate of ten per cent. in a case where the payee is a resident; (ii) at the rates in force in a case where the payee is a nonresident (not being a company) or a foreign company.....