Section 393(2); Table [For Payments to Non-Resident] - Income in respect of Units of Mutual Fund or Specified Company

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....1. Sl. No. Nature of payment Recipient Deductor Rate of TDS 10 (a) Income in respect of units of a Mutual Fund specified under Schedule VII (Table: Sl. No. 20 or 21); or (b) Income in respect of units from the specified company Non-resident (other than a company) or a foreign company Any person As per Note 2 Scope of the provision T....

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....ted at the rate of 20%. However, where the payee is entitled to the benefit of an agreement referred to in section 159(1) or section 159(2) and furnishes the certificate referred to in section 159(8), tax shall be deducted at the rate specified in such agreement, if that rate is lower than 20%. Thus, the provision permits application of the beneficial treaty rate where the prescribed conditions....

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....ception(For no Tax Deduction at source); Section 393(4), Table S.No.15 Comparative Analysis: Section 196A (Income-tax Act, 1961) vs. Section 393(2), Sl. No. 10 (Income-tax Act, 2025) Particulars Section 393(2), Sl. No. 10 (Income-tax Act, 2025) Section 196A (Income-tax Act, 1961) Nature of payment Income in respect of units of specified Mutual Funds or units from t....