SECTION |
First Sch. Reference |
Description |
Obligation of |
Rate |
Comments |
I.T Ord.
1979 |
I.T Ord. 2001 |
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deposits made in foreign currency
accounts on or after December 16, 1999 |
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d) Any bond, certificate, debenture,
security of instrument of any kind (other than a loan agreement
between a borrower and a banking company) |
Banking company, financial
institution, company of finance society |
10% |
The provisions of this section
shall not apply to a person who produces an exemption certificate |
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The provisions of this section
shall not apply to special purpose vehicle for the purpose
of securitization |
53(3),
50(3A) |
152 |
Div. IV of Part I |
Payments to non-residents-
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a) Royalty and Fees for Technical Services |
Every person |
15% |
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| Div. II of Part II |
b) Other payments |
Every person |
30% |
| 50(4) |
153 |
Div. III
Part III |
1) Payment to a resident or
PE of non-resident on account of - |
Federal Government, company,
AOP registered under law, foreign contractor or consultant,
consortium or joint venture |
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a) Sale of goods (gross amount
payable inclusive of sales tax) |
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1% in case of sale of rice,
cotton, cotton seed or edible oils |
Deduction of tax is not required
in following cases- |
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3.5% in case of sale of any
other goods |
a) Where an importer is selling
goods in the same condition and has paid tax under section
148 at import stage |
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b) Refund of security deposit |
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c) Lease and buyback arrangements |
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d) Payment for securitisation
of receivables by a Special Purpose Vehicle |
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b) Rendering of services |
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2% in case of transport services |
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5% in any other case |
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c) Execution of contracts |
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6% where contract
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