Tax deduction at source on interest from government securities: prescribed withholding rates, exemptions, and certificate rules apply. Prescribes tax deduction at source on interest payable on Government securities for the financial year from April 1, 1975, with specified withholding and surcharge rates for residents, non-residents, domestic and non-domestic companies; defines domestic company for rate application; mandates acceptance of exemption or abatement certificates and written declarations to avoid deduction in specified cases; exempts certain Defence Loans, specified National Savings Certificates, and securities held by exempt corporations; requires statutory rounding of tax to the nearest rupee and consultation with Income-tax Officers where doubts arise.