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 1983-84 - Income Tax - 368/1983

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 1983-84 Circular No. 368 Dated 16/9/1983 From B. Nagarajan, Officer on Special Duty. 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 1983-84. Sir, I am directed to invite a reference to the Board's Circular No. 348 [F. No. 275/19/82-IT(B)] dated the 16th August, 1982, printed at [1982] 137 ITR (St.) 15, wherein you were requested to issue necessary instructions for making deduction of income-tax at source from the payment of "Interest on Government Securities" as prescribed in the Finance Bill, 1982. 2. A few changes in the rates of tax at which deduction has to be made from the payments of interest on Government securities during the financial year 1983-84 have been made in the Finance Act, 1983. I am, therefore, enclosing a copy of the draft circular letter setting out the rates at which income-tax and surcharge should be deducted from such payments after 31st March, 1983. You may please issue a circular on the basis of this draft to all Treasury Officers and Sub-Treasury Officers under your control individually with a view to ensuring that the provisions of the Act are strictly adhered to by them. Yours faithfully, (Sd.) B. Nagarajan Officer on Special Duty (Budget).