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Union of India - Section

Section 9 in Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020

9. Amendment of Act 12 of 2020.

- In the Finance Act, 2020, in section 2, with effect from the 1st day of April, 2020,-
(i)in sub-section (6),-
(A)in clause (a), for the words "being a non-resident", the words, figures and letter "being a non-resident, except in case of deduction on income by way of dividend under section 196D of the Income-tax Act" shall be substituted and shall be deemed to have been substituted;
(B)after clause (a), the following clause shall be inserted and shall be deemed to have been inserted, namely:-
(aa)in the case of every individual or Hindu undivided family or association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Income-tax Act, being a non-resident, in case of deduction on income by way of dividend under section 196D of that Act, calculated,-
(i)at the rate of ten per cent. of such tax, where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds fifty lakh rupees but does not exceed one crore rupees;
(ii)at the rate of fifteen per cent. of such tax, where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds one crore rupees;
(ii)in sub-section (9), in the third proviso, in clause (aa),-
(A)in sub-clause (iii), for the words "excluding the income", the words "excluding the income by way of dividend or income" shall be substituted and shall be deemed to have been substituted;
(B)in sub-clause (iv), for the words "excluding the income", the words "excluding the income by way of dividend or income" shall be substituted and shall be deemed to have been substituted;
(C)in sub-clause (v), for the words "including the income", the words "including the income by way of dividend or income" shall be substituted and shall be deemed to have been substituted;
(D)in the proviso, for the words "any income", the words "any income by way of dividend or income" shall be substituted and shall be deemed to have been substituted.