Section Text
a) where the company is a domestic company.---
(i) on income by way of interest other 20 per cent.: than "Interest on securities"
(ii) on income by way of winnings from 40 per cent.; lotteries and crossword puzzles (iii) on income by way of winnings from 40 per cent.; horse races (iv) on any other income (excluding 21.5 per cent.; interest payable on a tax-free security) (b) where the company is not a domestic company---
(i) on income by way of dividends 25 Per cent payable by any domestic company (ii) on income by way of winnings from 40 per cent.: lotteries and crossword puzzles (iii) on income by way of winnings from 40 per cent horse races (iv) on income by way of interest pay- 25 per cent.: able by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (v) on income by way of royalty 30 per cent.. payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern after the 31st day of March. 1976, where such royalty is in consi- deration for the transfer of all or any rights (including the granting of a licence) in respect of copyright in any book on a subject referred to in the proviso to sub-section (iA) of Section 115A of the Income-tax Act. to the Indian Concern (vi) on income by way of royalty (not being royalty of the nature referred to in sub-item (b) (v)) payable by Government or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and which has been approved by the Central Government-
(A) where the agreement is made 50 per cent.: after the 31st day of March, 1961 but before the 1st day of April. 1976 (B) where the agreement is made 30 per cent.: after the 31st day of March, 1976---
(vii) on income by way of fees for tech- nical services payable by Govern- ment or an Indian concern in pursuance of an agreement made by it with the Government or the Indian concern and which has been approved by the Central Government---
(A) where the agreement is made 50 per cent.: after the 29th day of February. 1964 but before the 1st day of April. 1976 (B) where the agreement is made 30 per cent.: after the 31 st day of March. 1976 (viii) on income by way of interest 44 per cent.: payable on a tax-free security (ix) on any other income 65 per cent.
Explanation.--- For the purposes of this Part. "investment income", "long-term capital gains" and "non- resident Indian" shall have the meanings assigned to them in chapter XII-A of the Income-tax Act. Surcharge on income-tax The amount of income-tax deducted in accordance with the provisions of ---
(a) sub-item (a) of item I of this Part shall be increased by surcharge for purposes of the Union. calculated at the rate of twelve per cent. of such income-tax, and (b) sub-item (a) of item 2 of this Part shall be increased by a surcharge, calculated at the rate of . fifteen per cent. of such income-tax