Interest on debentures specified for withholding treatment when issued by notified institutions, public sector companies or co-operative societies. The proviso to section 193 is amended by substituting clause (iib) to treat interest on debentures issued by institutions, authorities, public sector companies, and co-operative societies as covered, with the Central Government empowered to specify such issuers by notification; an explanation defines public sector company to include corporations under Central, State or Provincial Acts and Government companies as per the Companies Act, 1956.