Tax deduction at source on savings bonds: payer must deduct tax when annual interest exceeds specified threshold. The proviso to clause (iv) of section 193 is amended to add 7.75% Savings (Taxable) Bonds, 2018, so that the person responsible for paying interest to a resident shall deduct income-tax if the interest payable on such bonds exceeds ten thousand rupees during the financial year; the amendment takes effect from 1st April, 2018.