Deduction of tax at source applies to interest on specified government securities when annual interest exceeds the threshold. Amendment substitutes the proviso to clause (iv) of section 193 to subject interest on specified government securities to deduction of income-tax at source where interest payable in a financial year exceeds the prescribed threshold, naming certain savings bonds and empowering the Central Government to notify additional securities; operative from 1st October, 2024.
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Provisions expressly mentioned in the judgment/order text.
Deduction of tax at source applies to interest on specified government securities when annual interest exceeds the threshold.
Amendment substitutes the proviso to clause (iv) of section 193 to subject interest on specified government securities to deduction of income-tax at source where interest payable in a financial year exceeds the prescribed threshold, naming certain savings bonds and empowering the Central Government to notify additional securities; operative from 1st October, 2024.
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