Amendment of section 197A

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..... , the following sub-section shall be inserted, namely:— "(1E) Notwithstanding anything contained in this Chapter, no deduction of tax shall be made from any payment to any person for, or on behalf of, .....

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..... fshore banking unit on interest paid to non-resident or a person not ordinarily resident in India subject to fulfilment of certain conditions. It is proposed to insert a new sub-section (1E) so as to .....

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