Section 83 - Amendment of section194LBB. - Finance Act, 2016

Amendment of section194LBB. 83 . In section 194LBB of the Income-tax Act, for the words deduct income-tax thereon at the rate of ten per cent. , the following shall be substituted with effect from the 1st day of June, 2016, namely:- deduct income-tax thereon,- (i) at the rate of ten per cent., where the payee is a resident; (ii) at the rates in force, where the payee is a non-resident (not being a company) or a foreign company: Provided that where the payee is a non-resident (not being a company) or a foreign company, no deduction shall be made in respect of any income that is not chargeable to tax under the provisions of the Act. .