Quick Summary
Section 193 of the Act provides for TDS on payment of any income to a resident by way of interest on securities. 2. The proviso to section 193 of the Act provides exemption from TDS in respect of payment of interest on certain securities. Clause (ix) of the proviso to the aforesaid section provides that no tax is to be deducted in the case of any interest payable on any security issued by a company, where such security is in dematerialized form and is listed on a recognized stock exchange in
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1999
(Excl. of GST ₹359)
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3499
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FAQ :
The exemption from TDS on interest payments for listed debentures paid to residents has been removed.
This amendment takes effect from April 1st, 2023.
The exemption was removed because it was observed that recipients were under-reporting their interest income.
This change applies to interest payable on listed debentures that are in dematerialised form.
Previously, no tax was to be deducted at source on interest payable on dematerialised and listed securities issued by a company.
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