TDS exemption on debenture interest where payment by account payee cheque and aggregate interest falls below threshold.

An amendment exempts from tax deduction at source interest payable to a resident individual on debentures of companies in which the public are substantially interested when listed on a recognised stock exchange, provided the interest is paid by account payee cheque and the aggregate interest paid or likely to be paid during the financial year to that individual does not exceed a specified threshold.

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