TDS on interest on securities: deduction required at payment or when credited, subject to threshold and specific exemptions. TDS applies to interest on securities paid to residents with deduction at rates in force, subject to a financial-year aggregate threshold below which deduction is not required. Tax must be deducted at the earlier of payment or credit to the payee's account. The provision lists exemptions including certain defence and development bonds, national savings instruments, government securities, interest payable to specified insurers and public financial institutions, dematerialised listed securities, and interest to business trusts by qualifying special purpose vehicles, with specified provisos for debentures held by resident individuals or HUFs and government-notified exempt bonds.
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.
TDS on interest on securities: deduction required at payment or when credited, subject to threshold and specific exemptions.
TDS applies to interest on securities paid to residents with deduction at rates in force, subject to a financial-year aggregate threshold below which deduction is not required. Tax must be deducted at the earlier of payment or credit to the payee's account. The provision lists exemptions including certain defence and development bonds, national savings instruments, government securities, interest payable to specified insurers and public financial institutions, dematerialised listed securities, and interest to business trusts by qualifying special purpose vehicles, with specified provisos for debentures held by resident individuals or HUFs and government-notified exempt bonds.
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