https://www.taxtmi.com/circulars?id=4925 Withholding agents must deduct income-tax from interest on Government securities for financial year 1988-89 at the prescribed basic rates and increase the amount of tax deducted by a surcharge for Union purposes applicable to resident Indians and domestic companies. Exemption or abatement certificates already issued and operative for the year should be accepted; new certificates issued after April 1, 1988 govern the rates to be applied. Specific exemptions and a written declaration by resident individuals claiming non-deduction are recognised. Compliance obligations include quoting the Tax-deduction Account Number, timely payment of deducted tax, prescribed returns, rounding rules, and penalties including criminal sanctions for failure to remit deducted tax. en-us Wed, 10 Aug 1988 00:00:00 +0530 Mon, 04 Aug 2008 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4925 Withholding agents must deduct income-tax from interest on Government securities for financial year 1988-89 at the prescribed basic rates and increase the amount of tax deducted by a surcharge for Union purposes applicable to resident Indians and domestic companies. Exemption or abatement certificates already issued and operative for the year should be accepted; new certificates issued after April 1, 1988 govern the rates to be applied. Specific exemptions and a written declaration by resident individuals claiming non-deduction are recognised. Compliance obligations include quoting the Tax-deduction Account Number, timely payment of deducted tax, prescribed returns, rounding rules, and penalties including criminal sanctions for failure to remit deducted tax. Circulars Income Tax Wed, 10 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4925