Amendment of section 193.

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..... -clause (a), for the words "five thousand rupees", the words "ten thousand rupees" shall be substituted. - Clause 51 of the Bill seeks to amend section 193 of the Income-tax Act relating to interest on securities. The said section, inter alia, provides that the person responsible for paying to a resident any income by way of interest on securities shall deduct income-tax at the rates in force .....

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..... e amount or the aggregate of amounts exceed ten thousand rupees during the financial year. It is further proposed to amend clause (v) of the proviso to the said section so as to provide that no tax is required to be deducted therein if the amount of interest paid or likely to be paid does not exceed ten thousand rupees. These amendments will take effect from 1st April, 2025.
Statute, statutor .....

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