Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
Section - 4 - Amendment of Section "196D"
Amendment of Section "196D".4. (XXVIII) in section 196D, after sub-section (1), the following sub-section shall be inserted with effect from the 1st day of November, 2020, namely:-
| "(1A) | - | Where any income in respect of securities referred to in clause (a) of sub-section (1) of section 115AD, not being income by way of interest referred to in section 194LD, is payable to a specified fund [referred to in clause (c) of the Explanation to clause (4D) 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 by any mode, whichever is earlier, deduct the income-tax thereon at the rate of ten per cent.: |
| - | Provided that no deduction shall be made in respect of an income exempt under clause (4D) of section 10."; |
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