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196C. Income from foreign currency bonds or shares of Indian company. — Where any income by way of interest or dividends in respect of bonds or Global Depository Receipts referred to in section 115AC or by way of long-term capital gains arising from the transfer of such 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 76[by any mode], whichever is earlier, deduct income-tax thereon at the rate of ten per cent.
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