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of <h1>Finance Act 1984: Section 193 Amendment Exempts Interest on Listed Debentures up to Rs. 1,000 for Residents.</h1> Section 193 of the Income-tax Act has been amended by the Finance Act, 1984, effective June 1, 1984. A new clause (v) is added to the proviso, exempting from tax any interest payable to a resident individual on debentures issued by a publicly interested company, provided the debentures are listed on a recognized Indian stock exchange. The exemption applies if the interest is paid via account payee cheque and does not exceed one thousand rupees in aggregate during the financial year.
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