Few of the securities are not liable to the provisions of sec - 193, it includes 6 % gold bonds, 1977 and 7 % gold bonds, 1980, provided interest payable does not exceed Rs. 10,000.
Doubt :- Whether this payment of INTEREST below Rs. 10,000 needs to be by way of A/C PAYEE CHEQUE ?
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Sec 193* TDS ON SECURITIES
Replies (3)
Quick Summary
If payment is less than 10000 rupees then it can be paid by cash also
If any Payment are in below rupees 10,000 then an individual or firm pay through cash mode as per section 40(A)(3)of the Income Tax Act, 1961.....
Pls mention Sec 40 a(3) . It's a valid section for tax audit.
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