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of <h1>Finance Bill 2018 amends Income-tax Act section 193 to include 7.75% Savings Bonds for tax deduction.</h1> Clause 46 of the Finance Bill, 2018, amends section 193 of the Income-tax Act concerning interest on securities. It updates the proviso to clause (iv) to include '7.75% Savings (Taxable) Bonds, 2018' alongside '8% Savings (Taxable) Bonds, 2003.' The amendment mandates that income tax be deducted by the payer if the interest on these bonds exceeds ten thousand rupees in a financial year. This change is effective from April 1, 2018.
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