- Under Section 193 of the Indian Income Tax Act, the interest received on debentures or securities for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act is also taxable as "Income from Other Sources".
- Interest received on debentures issued by a company and listed on a recognized stock exchange in accordance with the Securities Contracts (Regulation) Act, 1956 and its rules, is also taxable under Section 193 of the Indian Income Tax Act as "Income from Other Sources".
- Interest received on securities of the Central or State Government, such as 8% Savings (Taxable) Bonds, 2003, and 7.75% Saving (Taxable) Bonds, 2018, is also taxable under Section 193 of the Indian Income Tax Act as "Income from Other Sources".
- The rate of TDS (Tax Deducted at Source) on interest received on securities, including bonds, debentures, government securities, and other securities, is determined as per the provisions of the Indian Income Tax Act and the prevailing tax rates. The current TDS rate for interest on securities is 10% for individuals and Hindu Undivided Families (HUFs).
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