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TDS exemption - Interest on securities
September, 11th 2002

Direct Tax Notification No. 263-2002 dated 11th September, 2002


Applicability of S. 193(iib)

Sub Topic

TDS exemption - Interest on securities


In accordance to the provisions of section 193(iib), the Central Government has specified that any interest payable on "SEBI Capital Gains Bonds" issued by SIDBI would be exempt from TDS, subject to certain conditions.

Direct Tax Notification No. 263-2002 dated 11th September, 2002

In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income Tax Act, 1961 (43 of 1961), the Central Government hereby specifies the "SEBI Capital Gains Bonds" issued by the Small Industries Development Bank of India, Mumbai for the purposes of the said clause :

Provided that the benefit under the said proviso shall be admissible in the case of transfer of such bonds by endorsement or delivery, only if the transferee informs the Small Industries Development Bank of India by registered post within a period of sixty days of such transfer.

K.Sasikanthan Under Secretary


Issued by:
Ministry of Finance & Company Affairs
Department of Revenue
New Delhi.

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