TDS exemption for interest on securities applies to specified bonds, eligible government securities, insurers, and Business Trust payments. No deduction of tax at source is required on specified interest on securities where security-based or recipient-based exemptions apply. The security-based ... Summary
TDS exemption for interest on securities applies to specified bonds, eligible government securities, insurers, and Business Trust payments.
No deduction of tax at source is required on specified interest on securities where security-based or recipient-based exemptions apply. The security-based exemption covers National Development Bonds, notified debentures, and eligible Central or State Government securities, subject to exclusions for specified taxable savings bonds and notified Government securities. Recipient-based exemption covers qualifying insurers in respect of securities owned or beneficially held by them, and Business Trusts receiving interest from a Special Purpose Vehicle on securities held by the trust.
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