Income Tax Act, 2025
Section 5: Ins. by Act 23 of 2004, s. 38 (w.e.f. 12004).
5. Ins. by Act 23 of 2004, s. 38 (w.e.f. 12004).
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Provided that no deduction shall be made under this section where the amount of such payment or, as
the case may be, the aggregate amount of such payments to a resident during the financial year does not
exceed 1[two lakh and fifty thousand rupees]:
2[Provided further that no deduction shall be made under this section where such payment is made in
respect of any award or agreement which has been exempted from levy of income-tax under section 96 of
the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement
Act, 2013 (30 of 2013).]
Explanation.—For the purposes of this section,—
(i) “agricultural land” means agricultural land in India including land situate in any area referred
to in items (a) and (b) of sub-clause (iii) of clause (14) of section 2;
(ii) “immovable property” means any land (other than agricultural land) or any building or part
of a building.]
3[194LB. Income by way of interest from infrastructure debt fund.—Where any income by way
of interest is payable to a non-resident, not being a company, or to a foreign company, by an
infrastructure debt fund referred to in clause (47) of section 10, the person responsible for making the
payment shall, at the time of credit of such income to the account of the payee or at the time of payment
thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct incometax thereon at the rate of five per cent.]
4[194LBA.Certain income from units of a business trust.—(1) Where any distributed income
referred to in section 115UA, being of the nature referred to 5[in sub-clause (a) of clause (23FC)] 6[or
clause (23FCA)] of section 10, is payable by a business trust to its unit holder being a resident, the person
responsible for making the payment shall at the time of credit of such payment to the account of the payee
or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode,
whichever is earlier, deduct income-tax thereon at the rate of ten per cent.
(2) Where any distributed income referred to in section 115UA, being of the nature referred to
5[in sub-clause (a) of clause (23FC)] of section 10, is payable by a business trust to its unit holder,7[being
a non-resident (not being a company)] or a foreign company, the person responsible for making the
payment shall at the time of credit of such payment to the account of the payee or at the time of payment
thereof in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct
income-tax thereon at the rate of five per cent.]
6[(3) Where anydistributed income referred to in section 115UA, being of the nature referred to in
clause (23FCA) of section 10, is payable by a business trust to its unit holder, being a non-resident (not
being a company), or a foreign company, the person responsible for making the payment shall at the time
of credit of such payment to the account of the payee or at the time of payment thereof in cash or by the
issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the
rates in force.]
“agricultural land” means agricultural land in India including land situate in any area referred
to in items
and
of sub-clause
of clause
of section 2;
“immovable property” means any land (other than agricultural land) or any building or part
of a building.]
3[194LB. Income by way of interest from infrastructure debt fund.—Where any income by way
of interest is payable to a non-resident, not being a company, or to a foreign company, by an
infrastructure debt fund referred to in clause
of section 10, the person responsible for making the
payment shall, at the time of credit of such income to the account of the payee or at the time of payment
thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct incometax thereon at the rate of five per cent.]
4[194LBA.Certain income from units of a business trust.—
Where any distributed income
referred to in section 115UA, being of the nature referred to 5[in sub-clause
of clause
Where any distributed income referred to in section 115UA, being of the nature referred to
5[in sub-clause
of clause
Where anydistributed income referred to in section 115UA, being of the nature referred to in
clause
of section 10, is payable by a business trust to its unit holder, being a non-resident (not
being a company), or a foreign company, the person responsible for making the payment shall at the time
of credit of such payment to the account of the payee or at the time of payment thereof in cash or by the
issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the
rates in force.]