Tax withholding exemption applies to Specified Fund securities income when that income qualifies for Schedule VI exemption.

No deduction of tax at source applies to income of a Specified Fund from securities where the income is exempt under Schedule VI. Income from the specified securities is otherwise subject to withholding, but no tax is required to be deducted when the exemption condition is met. The relief is limited to payments that are income from securities covered by the relevant withholding provision and that qualify for the specified Schedule VI exemptions.

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