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Section 193 - TDS on Interest on securities

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..... interest paid/payable. The tax is to be deducted either at the time of payment in cash or issue of cheque or any other mode, or at the time of credit of interest to the account of payee, or to the interest payable account or suspense account whichever is earlier. Rate of TDS 10% Provided that TDS shall not be deducted in following cases: any interest payable on 4 per cen .....

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..... and rupees; and ( b ) such interest is paid by the company by an account payee cheque; any interest payable on any security of the Central Government or a State Government. However tax shall be deductible at source in case of 8% Saving (Taxable) Bonds, 2003, provided the interest on such bonds exceed ₹ 10,000/- during the financial year. any interest payable to the Life Insuranc .....

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