Non-deduction on debenture interest increased and extended to HUFs; account-payee cheque payment required for resident taxpayers. No tax deduction at source shall be required on interest payable to a resident individual or resident Hindu undivided family on debentures of companies in ... Summary
Non-deduction on debenture interest increased and extended to HUFs; account-payee cheque payment required for resident taxpayers.
No tax deduction at source shall be required on interest payable to a resident individual or resident Hindu undivided family on debentures of companies in which the public are substantially interested, provided the aggregate interest payable in the financial year to such payee does not exceed the prescribed threshold and the interest is paid by an account payee cheque; the clause removes the listed-debenture condition and increases the monetary threshold, effective from 1st July, 2012.
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