28[Income from
foreign currency bonds or shares29 of Indian company.30
196C. 31[Where any
income by way of interest or dividends in respect of 32[bonds or Global
Depository Receipts] referred to in section 115AC
or by way of long-term capital gains arising from the transfer of such 32[bonds or Global
Depository Receipts] is payable 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 :
33[Provided that
no such deduction shall be made in respect of any dividends referred to in section 115-O.]
