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of <h1>Income Tax Deduction Rates on Govt Securities Unchanged for 1977-78; Follow 1976 Part II First Schedule.</h1> The circular addresses the deduction of income tax from interest on government securities for the financial year 1977-78. It states that the Finance Bill, 1977, maintains the same tax deduction rates as those applied in 1976-77. The circular instructs that these rates, as specified in Part II of the First Schedule to the Finance Act, 1976, should continue to be used for tax deductions at source until further notice. It requests that these instructions be promptly communicated to all relevant Treasury and Sub-treasury Officers.
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