Substitution of New Section for Section 196A

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..... erson responsible for paying to a non-resident, not being a company, or to a foreign company, any income in respect of units of a Mutual Fund specified under clause (23D) of section 10 or of the Unit Trust of India shall, at the time of credit of such income 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 .....

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..... Act, 1973 (46 of 1973); (b) "non-resident Indian" shall have the meaning assigned to it in clause (e) of section 115C; (c) "Unit Trust of India" means the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963); (d) where any income as aforesaid is credited to any account, whether called "Suspense account" or by any other name, in th .....

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