Finance Act, 1969
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Rents, etc., payable to non-residents. |
25.—(1) Section 200 of the Income Tax Act, 1967 , shall not apply to— | |
(a) tax on profits or gains chargeable to tax under Case V of Schedule D, or | ||
(b) tax on any of the profits or gains chargeable under Case IV of Schedule D which arise under the terms of a lease, but to a person other than the lessor, or otherwise arise out of any disposition or contract such that if they arose to the person making it they would be chargeable under the said Case V, | ||
where payment is made (whether in the State or elsewhere) directly to a person whose usual place of abode is outside the State, but section 434 of the Income Tax Act, 1967 , shall apply in relation to the payment as it applies to other payments being annual payments charged with tax under Schedule D and not payable out of profits or gains brought into charge to tax. | ||
(2) Where by virtue of subsection (1) the tax chargeable for any year of assessment on a person's profits or gains chargeable to tax under either or both of the Cases therein mentioned would but for this subsection be greater than the tax which would be chargeable thereon but for the said subsection (1), then on a claim in that behalf being made relief shall be given from the excess, whether by repayment or otherwise. |