Income-tax Act, 1961

Income from foreign currency bonds or shares of Indian company.

196C. Where any income by way of interest or dividends in respect of bonds or Global Depository Receipts referred to in section 115AC or by way of long-term capital gains arising from the transfer of such bonds or Global Depository Receipts is payable to a non-resident, 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 by any mode, whichever is earlier, deduct income-tax thereon ^7-8[at the rate of-

(a)	-	ten per cent in respect of income by way of interest or dividends in respect of bonds or Global Depository Receipts referred to in section 115AC;
(b)	-	ten per cent in respect of long-term capital gains arising from transfer of such bond or Global Depository Receipts referred to in section 115AC which takes place before the 23rd day of July, 2024;
(c)	-	twelve and one-half per cent in respect of long-term capital gains arising from transfer of such bond or Global Depository Receipts referred to .... To read the full section download the app from Google Play store Latest Job Openings View all ARTICLESHIP 18 September 2026 Industrial Trainee Twenty Point Nine Five Ventures Private Limited Noida CA Inter View Details 22 September 2026 Account Assistant Chirag P Shah & Co. Chartered Accountant Pune B.Com View Details ARTICLESHIP 28 September 2026 Junior Accountant J S P M & Associates LLP Pune B.Com View Details ARTICLESHIP 16 September 2026 Article Assistant MANUJ SHARMA AND COMPANY Noida CA Inter View Details 16 September 2026 Internal Audit - Team Lead Consulting & Beyond Chennai CA View Details 09 September 2026 Chartered Accountant Aviv Global Private Limited Ahmedabad CA View Details Featured 11 September 2026 Audit Executive RBSM Corporate Advisors Private Limited Pune CA View Details ARTICLESHIP 30 September 2026 CA Article Assistant CA Suraj Garg & Associates New Delhi CA Final View Details Share  Facebook  Twitter  Linkedin  Reddit  Email  Whatsapp  Gmail  Print  PDF Finance and Tax WhatsApp groups list CCI All Updates (WA Group) CCI All Updates (WA Channel) CCI All Updates (Telegram Channel) GST Income Tax CA Final CA Inter CA Foundation CCI Jobs CS CCI Webinars CCI Pro Login at CAclubindia CAclubindia India's largest network for finance professionals User Name Password Remember Me Forgot Password ? Alternatively, you can log in using: Login with Google Don't have an account? Register Now click here to register Follow Us