New TDS Rules for Floating Rate Savings Bonds w.e.f 1st October 2024

Last updated: 26 July 2024

Quick Summary
New regulations regarding Tax Deduction at Source (TDS) on Floating Rate Savings (Taxable) Bonds (FRSB) 2020 will come into effect from 1st October 2024. These changes, stemming from amendments to Section 193 of the Act, will apply to interest payments exceeding ten thousand rupees on FRSB 2020 and other specified Central or State Government securities.

Tax Deduction at source on Floating Rate Savings (Taxable) Bonds (FRSB) 2020 Section 193 of the Act provides for deduction of tax at source on payment of any income to a resident by way of interest on securities. 2. The Government has introduced Floating Rate Savings (Taxable) Bonds (FRSB) 2020. T
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FAQ :

The new TDS rules will take effect from 1st October 2024.

The new rules apply to Floating Rate Savings (Taxable) Bonds (FRSB) 2020 and any security of the Central Government or State Government specified by the Central Government.

Tax deduction at source will apply to interest payments exceeding ten thousand rupees.

These TDS provisions are governed by Section 193 of the Act.



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