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 (No. 2) Bill, 1980
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Tax Deduction at Source on government securities interest: apply prescribed Finance Bill rates and instruct treasury officers accordingly. Rates for deduction of tax at source on Interest on Government Securities are to follow the rates proposed in the Finance (No. 2) Bill and corresponding schedule, and treasury and sub treasury officers must deduct tax at those prescribed rates from such interest receipts; administrative officers are to issue immediate instructions to subordinate treasury officers to implement those withholding rates.
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Tax Deduction at Source on government securities interest: apply prescribed Finance Bill rates and instruct treasury officers accordingly.
Rates for deduction of tax at source on Interest on Government Securities are to follow the rates proposed in the Finance (No. 2) Bill and corresponding schedule, and treasury and sub treasury officers must deduct tax at those prescribed rates from such interest receipts; administrative officers are to issue immediate instructions to subordinate treasury officers to implement those withholding rates.
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