Exempt securities income of a Specified Fund attracts no withholding despite its ordinary coverage under the TDS framework. Income of a Specified Fund from securities referred to in Section 393(2), Table Sl. No. 16, is ordinarily subject to deduction of tax at source. No ... Summary
Exempt securities income of a Specified Fund attracts no withholding despite its ordinary coverage under the TDS framework.
Income of a Specified Fund from securities referred to in Section 393(2), Table Sl. No. 16, is ordinarily subject to deduction of tax at source. No deduction is required where the income is exempt under Schedule VI, Table Sl. Nos. 1 to 4. The non-deduction treatment depends on the payment being qualifying income from the specified securities and on the applicable Schedule VI exemption.
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