Section 196C - TDS on Income from foreign currency bonds or GDRs - Income Tax - Ready Reckoner - Income Tax

Section 196C : TDS on Income from foreign currency bonds or GDRs Nature Of Income Where any income by way of Interest in respect of bonds referred u/s 115AC or Dividends in respect of Global Depository Receipts (GDR's) referred u/s 115AC or Long-term capital gain s arising from the transfer of such bonds or GDR's is payable to a non-resident. Rate of TDS From 23rd July 2024 [ substituted vide Finance (No. 2) Act, 2024 ] (a) 10% in respect of income by way of interest or dividends in respect of bonds or Global Depository Receipts referred to in section 115AC; (b) 10% in respect of LTCG arising from transfer of such bond or Global Depository Receipts referred to in section 115AC which takes place before the 23rd day of July, 2024; (c) 12.5% in respect of LTCG arising from transfer of such bond or Global Depository Receipts referred to in section 115AC which takes place on or after the 23rd day of July, 2024. Upto 22th July 2024 - the person responsible for making the payment shall deduct income tax thereon @ 10%. Time of Deduction At the time of credit or payment, whichever is earlier.