Income-tax Act, 1961-Section 193 read with section 179(1)/(2)-Interest on Government securities-Rates of tax applicable during the year 1976-77 as proposed in the Finance Bill, 1976 - Income Tax - 193/1976

Income-tax Act, 1961-Section 193 read with section 179(1)/(2)-Interest on Government securities-Rates of tax applicable during the year 1976-77 as proposed in the Finance Bill, 1976 Circular No. 193 Dated 20/3/1976 From Shri K.R. Raghavan, Director, Central Board of Direct Taxes, New Delhi. To All Accountants-General and Comptrollers, A.G., P. T. Simla, D.A.G., P. T, Calcutta, and C. A. G., New Delhi. Sir, Subject: Income-tax Act, 1961-Section 193 read with section 179(1)/(2)-Interest on Government securities-Rates of tax applicable during the year 1976-77 as proposed in the Finance Bill, 1976. I am directed to forward a copy of draft circular letter setting out the rates at which income-tax and surcharge should be deducted from interest on Government Securities on or after the 1st April, 1976. It is requested that a circular on the basis of this draft may be issued by you immediately to all Treasury Officers and Sub-Treasury Officers under your control, individually. Yours faithfully, (Sd.) K.R. RAGHAVAN, Director, Central Board of Direct Taxes.