Deduction of tax at source--Section 193 read with section 197(1)/(2) of the Income-tax Act, 1961--Interest on Government securities--Rates of tax, applicable during the year 1981-82 - Income Tax - 299/1981

Deduction of tax at source--Section 193 read with section 197(1)/(2) of the Income-tax Act, 1961--Interest on Government securities--Rates of tax, applicable during the year 1981-82 Circular No. 299 Dated 24/4/1981 From S.R. Wadhwa, Director, Central Board of Direct Taxes. To All Accountants General Comptrollers, A.G., P T, Simla, D.A.G., P T, Calcutta and Comptroller Auditor General of India, New Delhi. Subject : Deduction of tax at source--Section 193 read with section 197(1)/(2) of the Income-tax Act, 1961--Interest on Government securities--Rates of tax, applicable during the year 1981-82. Sir, I am directed to invite a reference to this Department's Circular No. 275 (F.No. 275/13/80-ITB), dated the 16th July, 1980, ([1981] 129 ITR (St.) 44) and to enclose 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, 1981, as prescribed in the Finance Bill, 1981. 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, Director.