Circular No. 228-Income Tax dated 14-7-1977

FINANCIAL YEAR 1977-78

 Instructions for deduction of tax at source from interest on securities during financial year 1977-78 at the rates specified in Part III of First Schedule to Finance Bill, 1977

1. In continuation of this Department’s Circular : No. 215 [F.No. 275/21/77-IT(B)], dated 31-3-1977 [clarification 2], a copy of the draft circular letter setting out the rates at which income-tax and surcharge should be deducted from interest on Government securities after June 17, 1977 is forwarded herewith.

2. A circular on the basis of this draft may please be issued immediately to all Treasury Officers and Sub-Treasury Officers under your control individually.

Circular : No. 228 [F.No. 275/21/77-IT(B)], dated 14-7-1977.