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Section75
The Finance Act, 1992

Insertion of new section 196C

In force Act 18 of 1992 As on 14 Oct 2026

Act 18 of 1992 Ministry Finance Cited by 1 provision

Section 75 of the Finance Act, 1992 deals with insertion of new section 196C. Insertion of new section 196C. 75. After section 196B of the Income-tax Act, the following section Shall be inserted, with effect from the 1st day of June, 1992, namely: — "196C.

Insertion of new section 196C.

75. After section 196B of the Income-tax Act, the following section Shall be inserted, with effect from the 1st day of June, 1992, namely: —

"196C. Income from foreign currency bonds or shares of Indian company.—Where any income by way of interest or dividends is payable in respect of bonds or shares referred to in section 115AC to a non-resident, 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 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.".

[Finance Act, 1992]

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Section 75, The Finance Act, 1992 (Act 18 of 1992).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. Income-tax Act s. 196B Income from units

Referred to by 1

  1. s. 39 Substitution of new section for sections 75,76 and 77

Questions about Section 75

What does Section 75 of the Finance Act deal with?

Section 75 of the Finance Act is headed "Insertion of new section 196C". Insertion of new section 196C. 75. After section 196B of the Income-tax Act, the following section Shall be inserted, with effect from the 1st day of June, 1992, namely: — "196C.

How do I find court cases under Section 75 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1992 75, section 75 Finance Act 1992, section 75 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 75 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 196B (Income from units), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was the Finance Act enacted?

Finance Act was enacted in 1992 as Act 18 of 1992. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.