MUMBAI: Eight per cent taxable bonds, floated by the Government in
2003, will attract tax deduction at source (TDS) from today on
interest exceeding Rs 10,000 in a year.
"Tax is required to be deducted at source on the interest exceeding Rs
10,000 payable during the financial year on 8 per cent Savings
(Taxable) Bonds, 2003 with effect from June 1, 2007," Reserve Bank of
India (RBI) said in a communication to the banks.
The Government has floated the eight per cent taxable bonds in 2003
with a maturity of six years. The interest was payable on non-
cumulative bonds half yearly and cumulative bonds on maturity. These
bonds were initially exempted from TDS on the interest amount. - PTI
8 per cent taxable bonds attract TDS from 1st June
News posted by
CCI News Desk
Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.
Recent News :
- Tax Audit Deadline 2026: Professional Bodies Seek Extension to 31st October
- GSTN Announces emSigner 3.3 for New DSC USB Tokens Issued From 21st September 2026
- UPI 0.4% MDR Above Rs 2000: Grocery Shop Sign Sparks Fresh Debate
- India's STT Collections Rise 52.9% to Rs 40,214 Crore by 17th Sept 2026
- India to Monitor UPI MDR Charges to Protect Consumers from Extra Costs
- Central GST Superintendent Arrested in Bengaluru Over Alleged Rs 8 Lakh Bribe
- CBDT Revises Form 169 and Form 171 Under Income Tax Rules 2026
- Supreme Court PIL Challenges New UPI Merchant Charges Above Rs 2000
- MTPA Seeks Tax Audit Deadline Extension: TAR by 31st Oct, ITR by 30th Nov 2026
- AIMTPA Seeks Tax Audit & ITR Due Date Extension for AY 2026-27
Popular News
- AIMTPA Seeks Tax Audit & ITR Due Date Extension for AY 2026-27
- MTPA Seeks Tax Audit Deadline Extension: TAR by 31st Oct, ITR by 30th Nov 2026
- Income from Other Sources Under Income Tax Act 2025: Key Rules, Taxable Incomes and Deductions
- Tax Audit Deadline 2026: Professional Bodies Seek Extension to 31st October
- CBDT Notifies SFT Rules for Depository Transactions Under Income Tax Act 2025
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
