Section 193 – TDS from Interest on Securities – Quick Summary

TDS from Interest on Securities u/s 193 – Quick Summary

Person Responsible to Deduct TaxGovernment/ Local/ authority/ statutory corporation company  Central Govt. in case of 8% (taxable saving bonds)
Exemption LimitExempt Categories monetary limit of Rs. 5,000 in case of listed or unlisted debenture; otherwise no minimum Rs. 10,000 in case of 8% (taxable bonds)
TDS Rate10%
Time of Deduction of TDSAt the time of Payment or credit whichever is earlier.
Time for Deposit of TDSWithin one week from the last day of the month of tax deduction. For month of March, before 30th April.
Certificate of TDSForm 16A for each quarter is to be issued within 15 days from the due date for furnishing the statement of tax deducted at source under rule 31A i.e. on or before 15th August, 15th November, 15th February and 15th June
Quarterly Return of TDSIn Form No.26Q on or before 31st July, 31st October and 31st January for the first three quarters and on or before 31st May for the last quarter.
AO’s Certificate for Deduction at Lower Rate or Non Deduction Yes
Is Self Declaration by Payee for Non Deduction AdmissibleYes it can be filed, by person other than Company or Firm. Declaration to be submitted in duplicate in Form No. 15G/15H.

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