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Similarly, negotiated deals in listed corporate debt securities shall not be permitted and all such trades will have to be executed on the price and order matching mechanism of the stock exchanges as in the case of equities.
Circular No. 779-Income Tax 4.2 Rates for deduction of income-tax at source during the financial year 1999-2000 from income other than Salaries 4.2-1 The rates for deduction of income-tax at source during the financial year 1999-2000 from income other than Salaries, have been specified in Part II of the First Schedule to the Act. These rates apply to income by way of interest on securities, interest other than interest on securities, insurance commission, winnings from lotteries or crossword puzzles, winnings from horse races and income of non-residents (including non-resident Indians).
Notification No. 11078/1999 – Income Tax It is notified for general information that M/s Export Import Bank of India, Mumbai, has been approved by the Central Government as a Corporation engaged for providing long-term finance for industrial and infrastructure development in the country for the purpose of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment
