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TMI BlogOther sumsX X X X Extracts X X X X X X X X Extracts X X X X ..... at in the case of interest payable by the Government or a public sector bank within the meaning of clause ( 23D ) of section 10 or a public financial institution within the meaning of that clause, deduction of tax shall be made only at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode :] 24 [****] 18 [Explanation . 1 -For the purposes of this section, where any interest or other sum as aforesaid is credited to any account, whether called Interest payable account or Suspense account or by any other name, in the books of account of the person liable to pay such income, such crediting shall be deemed to be credit of such income to the account of the payee and the provisions of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rest or other sum without deduction of tax under that sub-section, and where any such certificate is granted, every person responsible for paying such interest or other sum to the person to whom such certificate is granted shall, so long as the certificate is in force, make payment of such interest or other sum without deducting tax thereon under sub-section (1). (4) A certificate granted under sub-section (3) shall remain in force till the expiry of the period specified therein or, if it is cancelled by the 15 [Assessing] Officers before the expiry of such period, till such cancellation. (5) The Board may, having regard to the convenience of assessees and the interests of revenue, by notification in the Official Gazette, make rule ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Words (not being interest on securities) omitted by the Finance Act, 2003, w.e.f. 1-6-2003. 3. Words or dividends omitted by the Finance (No. 2) Act, 1991, w.e.f. 1-10-1991. 4. Inserted by the Direct Tax Laws (Second Amendment) Act, 1989, w.r.e.f. 1-6-1987. 5. Inserted by the Finance Act, 2003, w.e.f. 1-4-2003. Earlier the second proviso was inserted by the Finance Act, 1997, w.e.f. 1-6-1997 and later on omitted by the Finance Act, 2002, w.e.f. 1-6-2002. 6. interest including omitted by the Finance Act, 1976, w.e.f. 1-6-1976. 7. Words interest on securities omitted by the Finance Act, 2003, w.e.f. 1-6-2003. 8. Word , dividend omitted by the Finance (No. 2) Act, 1991, w.e.f. 1-10-1991. 9. Word a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting to payment of any sum in such form and manner as may be prescribed by the Board ] 22. Substituted vide FINANCE (NO. 2) ACT, 2019 w.e.f. 01-11-2019 before it was read as to the 10 [Assessing] Officer to determine, 11 [by general or special order] 23. Substituted vide FINANCE (NO. 2) ACT, 2019 w.e.f. 01-11-2019 before it was read as to the Assessing Officer to determine, by general or special order 24.Omitted vide Finance Act, 2020 dated 27-03-2020 w.e.f. 01-04-2020 before it was read as 5 [Provided further that no such deduction shall be made in respect of any dividends referred to in section 115-O.] - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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