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of <h1>Income Tax Bill 2025 Clause 393 replaces Section 196A modernizing TDS on non-resident mutual fund income</h1> The Income Tax Bill 2025 modernizes withholding tax provisions for non-resident unit income through Clause 393, replacing Section 196A of the Income-tax Act 1961. The new provisions maintain TDS requirements on income from mutual fund units and specified companies paid to non-residents, while preserving exemptions for certain investments in Unit Trust of India units by non-resident individuals and Hindu undivided families. The Bill consolidates TDS provisions into a unified tabular format, retains Double Taxation Avoidance Agreement benefits, and introduces 'prescribed conditions' for exemptions, allowing greater administrative flexibility while maintaining core policy objectives of ensuring tax compliance and facilitating foreign investment.
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