Deduction of tax at source under section 193 read with section 197(1)/(2) of the Income-tax Act, 1961-Interest on Government Securities-Levy of surcharge on incomes-Regarding
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Surcharge on income-tax increases tax deduction at source on interest from government securities and requires immediate withholding adjustments. Tax to be deducted at source on interest payable on Government securities must be increased by a surcharge calculated as a percentage of the income-tax so computed, and this surcharge is to be applied from the stated commencement date; Treasury Officers, Banks and other payors are to be instructed immediately to implement the adjusted withholding, with Income-tax Officers available for assistance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Surcharge on income-tax increases tax deduction at source on interest from government securities and requires immediate withholding adjustments.
Tax to be deducted at source on interest payable on Government securities must be increased by a surcharge calculated as a percentage of the income-tax so computed, and this surcharge is to be applied from the stated commencement date; Treasury Officers, Banks and other payors are to be instructed immediately to implement the adjusted withholding, with Income-tax Officers available for assistance.
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