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Clause 87 - Amendment of section 196A. - Finance Bill, 2023Extract Amendment of section 196A. 87. In section 196A of the Income-tax Act, in sub-section (1), the following proviso shall be inserted, namely: Provided that where an agreement referred to in subsection (1) of section 90 or sub-section (1) of section 90A applies to the payee and if the payee has furnished a certificate referred to in sub-section (4) of section 90 or subsection (4) of section 90A, as the case may be, then, incometax thereon shall be deducted at the rate of twenty per cent. or at the rate or rates of income-tax provided in such agreement for such income, whichever is lower. .
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