Amendment of section 393.

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.... substituted; (b) in sub-section (4), in the Table, against serial number 7, in column C,-- (i) in clause (a), in sub-clause (i), after the words "banking company", the words and brackets "or any co-operative society engaged in carrying on the business of banking (including a co-operative land mortgage bank)" shall be inserted; (ii) in clause (b), in the long line, in sub-clau....

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....ties or dividends, as the case may be, as referred to in section 393(1) [Table: 4(i), 5(i) or 7]; (ii) such units or securities are held with such depository; and (iii) such securities are listed on a recognised stock exchange, in accordance with such procedure and manner, as may be prescribed."; (d) for sub-section (7), the following sub-section shall be substituted,....

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....dition where tax is not required to be deducted at source in respect of interest on income other than interest on securities referred to in sub-section (1) [Table Sl. No. 5(ii) and 5(iii)] of the said section. It is further proposed to amend clause (a)(i) of sub-section (4) [Table: Sl. No. 7. C] so as to provide that interest income paid or credited to any co-operative society engaged in carrying ....

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....the assessee as per the provisions of section 393(6) of the said Act and provide it to the person responsible for paying income of the nature referred to in 393(1) [Table: Sl. Nos. 4(i), 5(i) and 7] within a fixed timeline. However, this additional option shall be available only to those investors who have held the securities in the depository as defined in section 2(e) of the Depositories Act, 19....