Section 42 - Amendment of section 193. - Finance Act, 2008

Amendment of section 193. 42. In section 193 of the Income-tax Act, in the proviso, after clause (viii) and before the Explanation , the following clause shall be inserted with effect from the 1st day of June, 2008, namely:— ''(ix) any interest payable on any security issued by a company, where such security is in dematerialised form and is listed on a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 and the rules made 42 of 1956. thereunder.".