Amendment of section 194LBB
Amendment of section 194LBB.
83. In section 194LBB of the Income-tax Act, for the words "deduct income-tax thereon at the rate of ten per cent", the following shall be substituted with effect from the 1st day of June, 2016, namely:—
"deduct income-tax thereon,—
| (i) | at the rate of ten per cent, where the payee is a resident; | |
| (ii) | at the rates in force, where the payee is a non-resident (not being a company) or a foreign company.". |
Provided that where the payee is a non-resident (not being a company) or a foreign company, no deduction shall be made in respect of any income that is not chargeable to tax under the provisions of the Act."