Income-tax Act, 1961-Section 193 read with section 197(1)/(2)-Interest on Government securities-Rates of tax applicable during the year 1980-81 as prescribed by the Finance Act, 1980
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Deduction of tax from interest on government securities to continue at prior withholding rates under the relevant income tax provisions. Tax deduction from interest on government securities is to continue at the same withholding rates as previously in force; officials must issue directions to Treasury and Sub Treasury Officers to effect deduction at source using the rates set out in Part III of the First Schedule to the earlier Finance Act, consistent with the prior departmental circular.
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Provisions expressly mentioned in the judgment/order text.
Deduction of tax from interest on government securities to continue at prior withholding rates under the relevant income tax provisions.
Tax deduction from interest on government securities is to continue at the same withholding rates as previously in force; officials must issue directions to Treasury and Sub Treasury Officers to effect deduction at source using the rates set out in Part III of the First Schedule to the earlier Finance Act, consistent with the prior departmental circular.
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