Section 96 - Amendment of section 206CCA. - Finance Act, 2023

Amendment of section 206CCA. 96 . In section 206CCA of the Income-tax Act, (i) in sub-section (1), the following proviso shall be inserted with effect from the 1st day of July, 2023, namely: Provided that the rate of tax collection at source under this section shall not exceed twenty per cent. ; (ii) in sub-section (3), for the proviso, the following proviso shall be substituted, namely: Provided that the specified person shall not include (i) a non-resident who does not have a permanent establishment in India; or (ii) a person who is not required to furnish the return of income for the assessment year relevant to the said previous year and is notified by the Central Government in the Official Gazette in this behalf. .