TDS shall be affected by the securitisation trust at the time of payment or at the time of credit of income to the account of the investor, whichever is earlier.
| Payee | Rate of TDS |
| Resident individuals and HUF | 25% |
| Resident payees, other than individual and HUF | 30% |
| Non-residents(not being a company) or a foreign companies Foreign company Non resident (not being a company) | 40% 30% |
Where any income as aforesaid is credited to any account in the books of account of the person liable to pay such income, such crediting is deemed to be credit of such income to the account of the payee and tax has to be deducted at source. The account to which such income is credited may be called "Suspense Account" or by any other name.
Application For low or Nil deduction of tax at source
The facility for the investors to obtain low or nil deduction of tax certificate would be available,
the investor make an application to the Assessing Officer, and he can, on an application made by the assesse in this behalf , issue a certificate under section 197 (Form 13) in this behalf for no deduction of income tax or deduction of income- tax at a lower rate.
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