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[Cites 0, Cited by 0] [Section 393(2)] [Section 393] [Entire Act]

Union of India - Subsection

Section 393(2)(c) in The Income Tax Act, 2025

(c)subject to the provisions of sub-sections (4), (8) and (9).TableFOR PAYMENTS TO NON-RESIDENT
Sl. No.Nature of income or sumPayeePayerRate
ABCDE
1.Any income referred to in section 211.(a) A non-resident sportsman (including an athlete) or an entertainer, who is not a citizen of India; or a(b) non-resident sports association or institution.Any person.20%
2.Any income by way of interest payable in respect of moneys borrowed in foreign currency from a source outside India, —(a) under a loan agreement or issue of long- term infrastructure bond on or after the 1st July, 2012 but before the 1st July, 2023; or(b) by way of issue of any long-term bond on or after the 1st October, 2014 but before the 1st July, 2023, which is approved by the Central Government in this behalf.Any non- resident (not being a company) or a foreign company.Any Indian company or a business trust.5%
3.Any income by way of interest payable in respect of moneys borrowed from a source outside India by way of issue of rupee denominated bond before the 1st July, 2023.Any non- resident (not being a company) or a foreign company.Any Indian company or a business trust.5%
4.Any income by way of interest payable in respect of moneys borrowed from a source outside India by way of issue of any long- term bond or rupee denominated bond, which is listed only on a recognised stock exchange located in any International Financial Services Centre.Any non-resident (not being a company) or a foreign company.Any Indian company or a business trust.(a) 4%, where such bonds are issued on or after the 1st April, 2020 but before the 1st July, 2023; or(b) 9%, where such bonds are issued on or after 1st July, 2023.
5.Any income by way of interest.Any non- resident (not being a company) or a foreign company.Any infrastructure debt fund referred to in Schedule VII (Table: Sl. No. 46).5%
6.Any distributed income referred to in section 223, being of the nature referred to in Schedule V (Table: Sl. No. 3).Any unit holder, being a non- resident (not being a company) or a foreign company.Any business trust.(a) 5%, in case of income of the nature referred to in Schedule V [Table: Sl.No.3. B(a)]; and(b) 10%, in case of income of the nature referred to in Schedule V [Table: Sl. No. 3. B(b)].
7.Any distributed income referred to in section 223, being of the nature referred to in Schedule V (Table: Sl. No. 4).Any unit holder, being a non- resident (not being a company) or a foreign company.Any business trust.Rates in force.
8.Any income, other than that proportion of income which is exempt under Schedule V (Table: Sl. No. 2), in respect of units of an investment fund specified in section 224.Any unit holder, being a non- resident (not being a company) or a foreign company.Any investment fund specified in section 224.Rates in force.
9.Any income in respect of an investment in a securitisation trust specified in section 221.Any investor, being a non- resident (not being a company) or a foreign company.Any securitisation trust specified in section 221.Rates in force.
10.Any income—(a) in respect of units of a Mutual Fund specified under Schedule VII (Table: Sl. No. 20 or 21); or(b) in respect of units from the specified company.Any non- resident (not being a company) or a foreign company.Any person.As per Note 2.
11.Any income in respect of units referred to in section 208.Any offshore fund.Any person.10%
12.Any income by way of long-term capital gains arising from the transfer of units referred to in section 208;Any offshore fund.Any person.12.5%
13.Any income by way of interest or dividends in respect of bonds or Global Depository Receipts referred to in section 209.Any non- resident.Any person.10%
14.Any income by way of long-term capital gains arising from the transfer of bonds or Global Depository Receipts referred to in section 209.Any non- resident.Any person.12.5%
15.Any income in respect of securities referred to in section 210(1) (Table: Sl. No. 1).Any Foreign Institutional Investor.Any person.As per Note 2.
16.Any income in respect of securities referred to in section 210(1) (Table: Sl. No. 1).A specified fund referred to in Schedule VI [ Note 1(g)].Any person.10%
17.Any interest (not being interest referred to against serial numbers 2, 3, 4 and 5) or any other sum chargeable under the provisions of this Act, not being income chargeable under the head "Salaries".Any non- resident (not being a company) or a foreign company.Any person.Rates in force.
Note 1.—For serial numbers. 2, 3 and 4, the interest payable shall be income to the extent to which such interest does not exceed the amount of interest calculated at the rate approved by the Central Government in this behalf, having regard to the terms of the loan or the bond and its repayment.Note 2.—For serial numbers. 10 and 15, tax shall be deducted at the rate of—
(a)20%; or
(b)where an agreement referred to in section 159(1) or 159(2) applies to the payee and if the payee has furnished a certificate referred to in section 159(8), as the case may be, then, income-tax shall be deducted at the rate or rates of income-tax provided in such agreement for such income, if such rate is lower than 20%.
Note 3.—For serial number. 17,—
(a)if interest is payable by the Government or a public sector bank or a public financial institution within the meaning of Schedule VII (Note 3), deduction of tax shall be made only at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode;
(b)the obligation to deduct tax at source and comply with the provisions of this serial number extend to all persons resident or non-resident, whether or not, the non-resident person has—
(i)a residence or place of business or business connection in India; or
(ii)any other presence in any manner whatsoever in India.