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 18 May 2026 MIS Executive Primarc Pecan Retail Limited Mumbai B.Com View Details 19 May 2026 Article, CA & Paid Assistant Positions Aggarwal Sarawagi and Co New Delhi CA View Details 07 May 2026 CA Assistant amit desai and co Mumbai CA Final View Details 26 April 2026 Chartered Accountant Source HR Mumbai CA View Details ARTICLESHIP 30 April 2026 Article Assistant J SINGH & ASSOCIATES Ahmedabad CA Inter View Details ARTICLESHIP 27 April 2026 CA Articled Assistant GM Corporate Solutions Noida CA Final View Details 06 May 2026 Account Assistant / Article Clerk V.K. Ranjan & Co(Chartered Accountants) New Delhi B.Com View Details 16 May 2026 Audit clerk mgirt & co Bengaluru CA Inter View Details Share  Facebook  Twitter  Linkedin  Reddit  Email  Whatsapp  Gmail  Pocket  Print  Pinterest  PDF  Translate Whatsapp Groups GST Income Tax CA Final CA Inter CAclubindia 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