Section Text
(a) where the person is resident in India --
(i) on income by way of interest other than Interest on securities" 10 per cent.;
(ii) on income by way of winnings from lotteries and crossword puzzles 40 per cent.;
(iii) on income by way of winnings from horse races 40 per cent.;
(iv) on income by way of insurance commission 10 per cent.;
(v) on income by way of interest payable on --
(A) any debentures or securities other than a security of the Central or a State Government for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act;
(B) any debentures issued by a company where such debentures are listed on a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956, and any rules made thereunder, (vi) on any other income 20 per cent.;
(b) where the person is not resident in India --
(i) in the case of a non--resident Indian --
(A) on any investment income 20 per cent.;
(B) on income by way of long--term capital gains referred to in section 115E 10 per cent.;
(C) on other income by way of long--term capital gains 20 per cent.;
(D) on income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency 20 per cent.;
(E) on income by way of winnings from lotteries and crossed puzzles 40 per cent.;
(F) on income by way of winnings from horse races 40 per cent.;
(G) on the whole of other income income--tax at 30 per cent. of the amount of income or income--tax in respect of the income at the rates prescribed in Paragraph A of Part III of this Schedule, if such income had been the total income, whichever is higher;
(ii) in the case of any other person --
(A) on income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency 20 per cent.;
(B) on income by way of winnings from lotteries and crossword puzzles 40 per cent.;
(C) on income by way of winnings from horse races 40 per cent.;
(D) on income by way of long--term capital gains 20 per cent.;
(E) on the whole of the other income income--tax at 30 per cent. of the amount of income Or income--tax in respect of the income at the rates prescribed in Paragraph A Of Part III of this Schedule, if such income had been the total income, whichever is higher.