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of <h1>Finance Act 2003 amends section 195 expanding tax deduction at source removing interest securities exclusion adding dividend exemptions</h1> The Finance Act, 2003 amends section 195 of the Income-tax Act regarding tax deduction at source. Key changes include: removing the exclusion for interest on securities from deduction requirements effective June 1, 2003; adding a new proviso exempting dividends under section 115-O from deduction obligations; and modifying sub-section (2) to retain only salary as an exception from deduction requirements while removing the interest on securities exclusion. These amendments expand the scope of tax deduction at source while providing specific exemptions for certain dividend payments.
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