Income from units.90196B.
Where any income
in respect of units referred to in section 115AB
or by way of long-term capital gains arising from the transfer
of such units is payable to an Offshore Fund, 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.