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of <h1>Amendment to Section 193 exempts tax deduction on interest from certain National Defence and Gold Bonds for residents.</h1> Section 193 of the Income-tax Act was amended by the Taxation Laws (Amendment) Act, 1962, to include a proviso exempting tax deduction on interest from 41% National Defence Bonds, 1972, and 61% Gold Bonds, 1977. This exemption applies to individuals who are not non-residents. For Gold Bonds, the holder must declare in writing that the total nominal value of the bonds, including those held on their behalf, did not exceed ten thousand rupees during the relevant interest period.
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