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of <h1>Section 193: Deduct TDS on Interest on Securities Over Rs 10,000 at Credit or Payment, With Specified Exemptions</h1> A payer of interest on securities to a resident must deduct income tax at source at the time of credit or payment, whichever is earlier, where the amount or aggregate during the financial year exceeds ten thousand rupees. Specific exemptions prevent deduction for certain notified bonds, government or specified savings securities, certain debentures subject to conditions, specified insurers, and interests payable to notified entities (including business trusts and special purpose vehicles). Credit to any internal account (e.g., 'Interest payable' or 'Suspense') is deemed credit to the payee for deduction purposes.
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