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of <h1>Instructions for Tax Deduction on Government Securities Interest for 1972-73; Includes Exemptions and Rounding Rules.</h1> The circular outlines the instructions for deducting tax at source from interest on government securities for the financial year 1972-73, as per the Finance Bill, 1972. It specifies different tax rates for individuals and companies, both resident and non-resident. Exemptions are provided for certain bonds and securities, including National Defence Bonds and National Savings Certificates, under specific conditions. Tax exemptions also apply to non-residents on certain loans and to corporations exempt from income tax. The circular advises rounding off tax amounts to the nearest rupee and consulting the Income-tax Officer in cases of doubt.
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