194LB Income Tax Act - Income by way of interest from infrastructure debt fund

Section 194lb of Income Tax Act 1961 - Income by way of interest from infrastructure debt fund

1Where any income by way of interest is payable to a non-resident, not being a company, or to a foreign company, by an infrastructure debt fund referred to in clause (47) of section 10, the person responsible for making the payment shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct incometax thereon at the rate of five per cent.
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1. Ins. by Act 8 of 2011, s. 28 (w.e.f. 1-6-2011).