Is TDS Applicable on RBI’s 8% Savings Bond?

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Tax is required to be deducted at source on the interest exceeding rupees ten thousand payable during the financial year on 8 % Savings (Taxable) Bonds, 2003 with effect from June 1, 2007 in terms of proviso to clause (iv) of Proviso to Section 193 of the Income Tax Act, 1961 (as inserted vide Finance…

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