India - Income Tax Act 2010 - Saarc

1.741 CH. XVII - COLLECTION & RECOVERY - DEDUCTION AT SOURCE S. 19378[(ia) any interest payable to an individual on 4¼ per cent NationalDefence Loan, 1968, or 4¾ per cent National Defence Loan, 1972; or]79[(ib) any interest payable on National Development Bonds; or](ii) 80 [***]81[(iia) any interest payable on 7-Year National Savings Certificates(IV Issue); or]82[(iib) any interest payable on such debentures, issued by any institution orauthority, or any public sector company, or any co-operative society(including a co-operative land mortgage bank or a co-operative landdevelopment bank), as the Central Government may, by notification 83in the Official Gazette, specify in this behalf;]84[***]](iii) any interest payable on 6½ per cent Gold Bonds, 1977, or 7 per centGold Bonds, 1980, where the Bonds are held by an individual not beinga non-resident, and the holder thereof makes a declaration in writingbefore the person responsible for paying the interest that the totalnominal value of the 6½ per cent Gold Bonds, 1977, or, as the case maybe, the 7 per cent Gold Bonds, 1980, held by him (including such bonds,if any, held on his behalf by any other person) did not in either caseexceed ten thousand rupees at any time during the period to whichthe interest relates;(iiia) 85 [* * *]86[(iv) any interest payable on any security of the Central Government or aState Government:]87[Provided that nothing contained in this clause shall apply to theinterest exceeding rupees ten thousand payable on 8% Savings (Taxable)Bonds, 2003 during the financial year;]78. Inserted by the Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1965, w.e.f.4-12-1965.79. Inserted by the Finance Act, 1978, w.e.f. 1-4-1978.80. Omitted by the Finance Act, 1988, w.e.f. 1-4-1989.81. Inserted by the Finance Act, 1970, w.e.f. 1-4-1970.82. Substituted by the Finance Act, 1986, w.e.f. 1-6-1986. Earlier, it was inserted by the FinanceAct, 1970, w.e.f. 1-4-1970.83. For specified debentures/bonds, see Taxmann’s Direct Taxes Circulars and Taxmann’sYearly Tax Digest & Referencer.84. Explanation omitted by the Finance Act, 1987, w.e.f. 1-4-1987. Omitted Explanation wasinserted by the Finance Act, 1986, w.e.f. 1-4-1986.85. Omitted by the Finance Act, 1997, w.e.f. 1-6-1997. Prior to its omission, clause (iiia) wasinserted by the Finance Act, 1982, w.e.f. 1-6-1982.86. Substituted, ibid. Prior to its substitution, clause (iv) was inserted by the Finance Act, 1966,w.e.f. 1-4-1966.87. Inserted by the Finance Act, 2007, w.e.f. 1-6-2007. See also Notification F-4(10)-W&M/2003, dated 31-5-2007. For details, see Taxmann’s Master Guide to Income-tax Act.