(1)Any person responsible for paying to a non-resident, not being a company, or to a foreign company, any income in respect of units of a Mutual Fund specified under clause (23-D) of section 10 or of the Unit Trust of India shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rate of twenty per cent.:][Provided that no deduction shall be made under this section from any such income credited or paid on or after the 1st day of April, 2003.] [ Inserted by Act 32 of 2003, Section 81 (w.r.e.f. 1.4.2003).]
