Interest exemption expanded to cover national savings certificates and notified cooperative debentures under Section 193. Amendment inserts two proviso clauses into Section 193: one exempting interest payable on 7 Year National Savings Certificates (IV Issue) and another ... Summary
Interest exemption expanded to cover national savings certificates and notified cooperative debentures under Section 193.
Amendment inserts two proviso clauses into Section 193: one exempting interest payable on 7 Year National Savings Certificates (IV Issue) and another exempting interest payable on debentures issued by cooperative societies (including cooperative land mortgage and development banks) and on other debentures as may be specified by the Central Government by notification.
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