« Top Headlines » Open DEMAT Account in 24 hrs  Haven't got your income tax refund yet? These could be the 5 reasons  How to rectify errors in an income tax challan online via the e-filing portal? A step-by-step guide  How sale of foreign shares is taxed in India  How to structure your salary to reduce your tax burden «  Consider tax impact on your PF money while quitting job... Govt to issue circular on service tax by June 15... » Has your tax bond come under TDS net ? June, 04th 2007 Eight per cent taxable bonds, floated by the government in 2003, will attract tax deduction at source (TDS) from Friday on interest exceeding Rs 10,000 in a year. "Tax is required to be deducted at source on the interest exceeding Rs 10,000 payable during the financial year on 8 per cent Savings (Taxable) Bonds, 2003 with effect from June 1, 2007," Reserve Bank of India (RBI) said in a communication to the banks. The government has floated the eight per cent taxable bonds in 2003 with a maturity of six years. The interest was payable on non-cumulative bonds half yearly and cumulative bonds on maturity. These bonds were initially exempted from TDS on the interest amount.