https://www.taxtmi.com/circulars?id=2863 Tax deduction at source on income from Deep Discount Bonds is required only at the time of redemption, regardless of whether the bond holder reported income annually on an accrual basis or only at redemption. A holder who declared accrual income may apply for a certificate for no or lower deduction by filing the prescribed form with year wise income details (and transferor particulars if not an original subscriber); the Assessing Officer may issue a reduced rate certificate after satisfaction. Resident individual original subscribers who declare accrual income and have no tax liability may furnish the prescribed declaration to avoid deduction, subject to limits on accumulated interest for certain individuals. en-us Thu, 13 May 2004 00:00:00 +0530 Mon, 11 Aug 2008 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2863 Tax deduction at source on income from Deep Discount Bonds is required only at the time of redemption, regardless of whether the bond holder reported income annually on an accrual basis or only at redemption. A holder who declared accrual income may apply for a certificate for no or lower deduction by filing the prescribed form with year wise income details (and transferor particulars if not an original subscriber); the Assessing Officer may issue a reduced rate certificate after satisfaction. Resident individual original subscribers who declare accrual income and have no tax liability may furnish the prescribed declaration to avoid deduction, subject to limits on accumulated interest for certain individuals. Circulars Income Tax Thu, 13 May 2004 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2863