Wednesday, October 26, 2016

section 196b of income tax act


Section - 196B, Income-tax Act, 1961



Income from units.

196B. Where any income in respect of units referred to in section 115AB or by way of long-term capital gains arising from the transfer of such units is payable to an Offshore Fund, 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 in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rate of ten per cent.

Section 196B: Income from units (including long-term capital gain on transfer of such units) to an offshore fund

Source
http://www.incometaxindia.gov.in/


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