Income-tax Act, 1961-Section 193 read with section 197(1)/(2)-Interest on Government securities-Rates of tax applicable during the year 1977-78 as proposed in the Finance (No.2) Bill, 1977 - Income Tax - 228/1977

Income-tax Act, 1961-Section 193 read with section 197(1)/(2)-Interest on Government securities-Rates of tax applicable during the year 1977-78 as proposed in the Finance (No.2) Bill, 1977 Circular No. 228 Dated 14/7/1977 From Shri S.R. Wadhwa, Deputy Secretary to the Government of India. To All Accountants-General and Comptrollers, A.G., P T, Simla, D.A.G., P T, Calcutta and C AG, New Delhi. Sir, Subject: Income-tax Act, 1961-Section 193 read with section 197(1)/(2)-Interest on Government securities-Rates of tax applicable during the year 1977-78 as proposed in the Finance (No.2) Bill, 1977. In continuation of this department's Circular No.215 (F.No.275/21/77-ITB)+ dated March 31, 1977, a copy of the draft circular letter setting out the rates at which income-tax and surcharge should be deducted from interest on Government securities after the 17th June, 1977, is forwarded herewith. 2. A circular on the basis of this draft may please be issued immediately to all Treasury Officers and Sub-Treasury Officers under your control individually. Yours faithfully, (Sd.) S.R. Wadhwa, Deputy Secretary to the Government of India. See page 73 supra.