196C. [ Income from foreign currency ] [Inserted by Act 18 of 1992, Section 75 (w.e.f. 1.6.1992).][bonds or Global Depository Receipts] [ Substituted by Act 14 of 2001, Section 72, for " bonds or shares" (w.e.f. 1.4.2002).][of Indian company. [Inserted by Act 18 of 1992, Section 75 (w.e.f. 1.6.1992).]
- Where any income by way of interest or dividends in respect of ] [bonds or Global Depository Receipts] [ Substituted by Act 14 of 2001, Section 72, for " bonds or shares" (w.e.f. 1.4.2002).][referred to in section 115-AC or by way of long-term capital gains arising from the transfer of such ] [Inserted by Act 18 of 1992, Section 75 (w.e.f. 1.6.1992).] [bonds or Global Depository Receipts] [ Substituted by Act 14 of 2001, Section 72, for " bonds or shares" (w.e.f. 1.4.2002).][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 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 ten per cent.:] [Inserted by Act 18 of 1992, Section 75 (w.e.f. 1.6.1992).][Provided that no such deduction shall be made in respect of any dividends referred to in section 115-O.] [ Inserted by Act 32 of 2003, Section 82 (w.r.e.f. 1.4.2003).]
