¹ [Payment under specified agreement.

194-IC. Notwithstanding anything contained in section 194-IA , any person responsible for paying to a resident any sum by way of consideration, not being consideration in kind, under the agreement referred to in sub-section (5A) of section 45 , shall at the time of credit of such sum 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 an amount equal to ten per cent of such sum as income-tax thereon.]

Note-

1 . Inserted by the Finance Act, 2017 (w.e.f. 1-4-2017).