https://www.taxtmi.com/circulars?id=5059 Obligation to deduct tax at source arises when interest on deposits, debentures or bonds is credited to the payer's books or paid, whichever is earlier; bookkeeping credit to an "Interest payable" or similar account is deemed credit to the payee and triggers deduction duties. For cumulative instruments the deductor must deduct each time interest is credited and deposit the tax with the Central Government within the prescribed time; a small-amount exemption for aggregate interest in a financial year applies and other statutory exemptions remain available. en-us Fri, 22 Jan 1993 00:00:00 +0530 Sat, 09 Aug 2008 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5059 Obligation to deduct tax at source arises when interest on deposits, debentures or bonds is credited to the payer's books or paid, whichever is earlier; bookkeeping credit to an "Interest payable" or similar account is deemed credit to the payee and triggers deduction duties. For cumulative instruments the deductor must deduct each time interest is credited and deposit the tax with the Central Government within the prescribed time; a small-amount exemption for aggregate interest in a financial year applies and other statutory exemptions remain available. Circulars Income Tax Fri, 22 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5059