Income-tax Act, 1961--Section 193 read with section 197(1)/(2)--Interest on Government securities--Rates of tax applicable during the year 1979-80 as prescribed in the Finance Act, 1979 - Income Tax - 255/1979

Income-tax Act, 1961--Section 193 read with section 197(1)/(2)--Interest on Government securities--Rates of tax applicable during the year 1979-80 as prescribed in the Finance Act, 1979 Circular 255 Dated 23/5/1979 From Shri S.R. Wadhwa, Deputy Secretary to the Govt. 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 1979-80 as prescribed in the Finance Act, 1979. In continuation of this department's Circular No. 238 (F.No. 275/13/78-ITB), dated 28-4-1978, ([1978] 113 ITR (St.) 77) 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 31st March, 1979, 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 and Sub-Treasury Officers under your control individually. Yours faithfully, (Sd.) S.R. Wadhwa, Deputy Secretary to the Govt. of India.