TDS exemption on zero coupon bonds extended to instruments issued by scheduled banks, with retrospective effect. The amendment adds 'scheduled bank' to clause (x) of sub section (3) of section 194A so that the non application of sub section (1) applies to income on zero coupon bonds issued by an infrastructure capital company, infrastructure capital fund, public sector company or scheduled bank; the amendment is consequential and given retrospective effect from 1 April, 2009.
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Provisions expressly mentioned in the judgment/order text.
TDS exemption on zero coupon bonds extended to instruments issued by scheduled banks, with retrospective effect.
The amendment adds "scheduled bank" to clause (x) of sub section (3) of section 194A so that the non application of sub section (1) applies to income on zero coupon bonds issued by an infrastructure capital company, infrastructure capital fund, public sector company or scheduled bank; the amendment is consequential and given retrospective effect from 1 April, 2009.
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