Income from foreign currency bonds or shares of Indian company

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..... he transfer of such 4[bonds or Global Depository Receipts] is payable to a non-resident], the person responsible for making the payment shall, at the time of credit of such income to the account of the payee or at the time of payment thereof 6[by any mode], whichever is earlier, deduct income-tax thereon 8[at the rate of-- (a) ten per cent. in respect of income by way of interest or dividends in .....

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..... 1993, w.e.f. 1-6-1993. 3. Substituted for "bonds or shares" by the Finance Act, 2001, w.e.f. 1-4-2002. 4. Substituted by the Finance Act, 2001, w.e.f. 1-4-2002. 5. Inserted by the Finance Act, 2003, w.e.f. 1-4-2003. Earlier the proviso was inserted by the Finance Act, 1997, w.e.f. 1-6-1997 and later on omitted by the Finance Act, 2002, w.e.f. 1-6-2002. 6. Substituted vide Finance Act .....

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