The following 8 points covered as interest payments not subjected to Tax Deduction at Source.
1) Any interest on 4.25% National Defence Bond, 1972 where the bonds are held by an resident individual.
2) Any interest payable on National Development Bonds .
3) Any interest payable on 7- year National Saving Certificates (IV issue).
4) Any interest payable on Notified debentures issued by any public sector company, or any co-operative society (including a co-operative land mortgage bank or a co-operative land development bank), or any other institution or authority as notified by the Central Government.
5) 6.5% Gold Bonds, 1977 or 7% Gold Bonds, 1980 if Bonds are held by resident individual and he declares that the total nominal value of such Bonds does not exceed Rs. 10000 at any time during the period to which the interest relates.
6) Any interest payable on any security of the Central Government or a State Government.
7) Any interest payable to a resident individual on debentures issued by a company in which the public are substantially interested, being debentures listed on a recognized stock exchange in India provided:
(a) The interest is paid by the company by an account payee cheque; and
(b) The aggregate amount of such interest paid or likely to be paid during the financial year by the company to such individual does not exceed Rs. 2500/-.
8) Any interest payable to LIC or GIC or any other insurance company on securities owned by it or in which it has full beneficial interest.
1) Any interest on 4.25% National Defence Bond, 1972 where the bonds are held by an resident individual.
2) Any interest payable on National Development Bonds .
3) Any interest payable on 7- year National Saving Certificates (IV issue).
4) Any interest payable on Notified debentures issued by any public sector company, or any co-operative society (including a co-operative land mortgage bank or a co-operative land development bank), or any other institution or authority as notified by the Central Government.
5) 6.5% Gold Bonds, 1977 or 7% Gold Bonds, 1980 if Bonds are held by resident individual and he declares that the total nominal value of such Bonds does not exceed Rs. 10000 at any time during the period to which the interest relates.
6) Any interest payable on any security of the Central Government or a State Government.
7) Any interest payable to a resident individual on debentures issued by a company in which the public are substantially interested, being debentures listed on a recognized stock exchange in India provided:
(a) The interest is paid by the company by an account payee cheque; and
(b) The aggregate amount of such interest paid or likely to be paid during the financial year by the company to such individual does not exceed Rs. 2500/-.
8) Any interest payable to LIC or GIC or any other insurance company on securities owned by it or in which it has full beneficial interest.
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