(2)Where any distributed income referred to in section 115UA, being of the nature referred to in clause (23FC) of section 10, is payable by a business trust to its unit holder, [being a non-resident (not being a company)] [Substituted 'being a non-resident, not being a company' by Finance Act, 2015 (No. 20 of 2015), dated 14.5.2015.] or a foreign company, the person responsible for making the payment shall at the time of credit of such payment 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 five per cent.] [Inserted by Act 22 of 1995, Section 36 (w.e.f. 1.7.1995).]
