Section 193 - Bare Acts

Finance Act, 1992 Section 70

Title: Amendment of Section 193

State: Central

Year: 1992

In section 193 of the Income-tax Act, with effect from the 1st day of June, 1992, - (a) the first proviso shall be omitted; (b) in the second proviso, the word "further" shall be omitted; (c) in Explanation 1, the figure "1" shall be omitted; (d) Explanation 2 shall be omitted.

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Finance Act 1997 Section 46

Title: Amendment of Section 193

State: Central

Year: 1997

In section 193 of the Income-tax Act, in the proviso, with effect from the 1st day of June, 1997, - (a) clause (iiia) shall be omitted; (b) for clause (iv), the following clause shall be substituted, namely :- "(iv) any interest payable on any security of the Central Government or a State Government.".

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Finance Act 1978 Section 20

Title: Amendment of Section 193

State: Central

Year: 1978

In section 193 of the Income-tax Act, in the proviso, after clause (ia), the following clause shall be inserted, namely :- "(ib) any interest payable on National Development Bonds; or".

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Finance Act, 2003 Section 72

Title: Amendment of Section 193

State: Central

Year: 2003

In section 193 of the Income-tax Act, in the opening portion, for the words "The person responsible for paying any income", the words "The person responsible for paying to a resident any income" shall be substituted with effect from the 1st day of June, 2003.

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Finance Act, 1982 Section 24

Title: Amendment of Section 193

State: Central

Year: 1982

In section 193 of the Income-tax Act, in the proviso, after clause (iii), the following clause shall be inserted with effect from the 1st day of June, 1982, namely :- "(iiia) any interest payable on such securities of the Central Government or a State Government, to such class of persons, and subject to such conditions, as the Central Government may, by notification in the Official Gazette, specify in this behalf;".

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Finance (No. 2) Act 1965 Section 13

Title: Amendment of Section 193

State: Central

Year: 1965

In section 193 of the Income-tax Act, for the proviso, the following proviso shall be substituted, namely :- "Provided that no tax shall be deducted from - (i) any interest payable on 4 1/4 per cent. National Defence Bonds, 1972, where the bonds are held by an individual, not being a non-resident; or (ii) any interest payable on National Savings Certificates (First Issue); or (iii) any interest payable on 6 1/2 per cent. Gold Bonds, 1977, or 7 per cent. Gold Bonds, 1980, where the bonds are held by an individual not being a non-resident, and the holder thereof makes a declaration in writing before the person responsible for paying the interest that the total nominal value of the 6 1/2 per cent. Gold Bonds, 1977, or, as the case may be, the 7 per cent. Gold Bonds, 1980, held by him (including such bonds, if any, held on his behalf by any other personal did not in either case exceed ten thousand rupees at any time during the period to which the interest relates.".

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Finance Act 1970 Section 22

Title: Amendment of Section 193

State: Central

Year: 1970

In section 193 of the Income-tax Act, in the proviso, after clause (ii), the following clauses shall be inserted, namely :- "(iia) any interest payable on 7-Year National Savings Certificates (IV Issue); or (iib) any interest payable on such debentures, issued by any co-operative society (including a co-operative land mortgage bank or a co-operative land development bank) or any other institution or authority, as the Central Government may, by notification in the Official Gazette, specify in this behalf; or".

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Finance Act, 1988 Section 37

Title: Amendment of Section 193

State: Central

Year: 1988

In section 193 of the Income-tax Act, with effect from the 1st day of April, 1989, - (a) in the opening paragraph, for the words 'chargeable under the head "Interest on securities"', the words "by way of interest on securities" shall be substituted; (b) in the proviso, clause (ii) shall be omitted.

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Finance Act, 1984 Section 22

Title: Amendment of Section 193

State: Central

Year: 1984

In section 193 of the Income-tax Act, in the proviso, after clause (iv), the following clause shall be inserted with effect from the 1st day of June, 1984, namely :- "(v) any interest payable to an individual, who is resident in India, on debentures issued by a company in which the public are substantially interested, being debentures listed on a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956), and any rules made thereunder, if - (a) the interest is paid by the company by an account payee cheque; and (b) the amount of such interest or, as the case may be, the aggregate of the amounts of such interest paid or likely to be paid during the financial year by the company to such individual does not exceed one thousand rupees.".

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Finance Act 2008 Section 42

Title: Amendment of Section 193

State: Central

Year: 2008

In section 193 of the Income-tax Act, in the proviso, after clause (viii) and before the Explanation, the following clause shall be inserted with effect from the 1st day of June, 2008, namely:-- (ix) any interest payable on any security issued by a company, where such security is in dematerialised form and is listed on a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956(42 of 1956) and the rules made thereunder..

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