Tax Deduction at Source on savings bonds applies to interest above the exemption threshold, including prior purchases. TDS on 8% Savings (Taxable) Bonds, 2003 is effective from 1 June 2007 and applies to interest credited or paid on or after that date if aggregate interest in a financial year exceeds Rs. 10,000, irrespective of date of investment. Different deduction rates apply by recipient category and residence; Form 15G/15H may be accepted where taxpayers estimate nil tax and meet aggregate income conditions. Cumulative bond interest is chargeable on credit/accrual exceeding the threshold, and charitable trusts require a section 197 certificate for lower or nil deduction.
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.
Tax Deduction at Source on savings bonds applies to interest above the exemption threshold, including prior purchases.
TDS on 8% Savings (Taxable) Bonds, 2003 is effective from 1 June 2007 and applies to interest credited or paid on or after that date if aggregate interest in a financial year exceeds Rs. 10,000, irrespective of date of investment. Different deduction rates apply by recipient category and residence; Form 15G/15H may be accepted where taxpayers estimate nil tax and meet aggregate income conditions. Cumulative bond interest is chargeable on credit/accrual exceeding the threshold, and charitable trusts require a section 197 certificate for lower or nil deduction.
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