8% Savings (Taxable) Bonds 2003 - RBI - Reserve Bank of India
8% Savings (Taxable) Bonds 2003
January 16, 2004 Pausha 26, 1925 Circular No. RBI / 2004 / 13 Ref.DGBA.CO.DT.13.01.299/H- 3819 /2003-04 The Chairman & Managing Director, SBI & Associate Banks, & 17 Nationalised Banks, UTI Bank Ltd., ICICI Bank Ltd., HDFC Bank Ltd. IDBI Bank Ltd. & Stock Holding Corporation of India Ltd. Dear Sir, 8% Savings (Taxable) Bonds 2003 Please refer to our letter No.CO.DT.13.01.299/H-38362002-03 dated 3rd April 2003 on the captioned subject. In this connection, we advise that Government of India has since notified that para 14 of the Ministry of Finance’s Notification No.F4(10)-W&M/2003 dated 21st March 2003 has been deleted vide their Notification No.F.4(10)-W&M /2003 dated 13th January 2004. Accordingly, we advise that no tax should be deducted at source while making payment of interest on the captioned bonds. Yours faithfully, sd/- ( B.B. Sangma ) General Manager Endt.No.CO.DT.13.01.299/ H-3819-A /2003-04 Copy forwarded for information to the Regional Directors, Reserve Bank of India Public Debt Office, Ahmedabad / Bangalore / Kolkata / Chennai/ Hyderabad/ Jaipur/ Kanpur/ Fort,Mumbai/ Byculla Mumbai / Nagpur / New Delhi/ Patna/ Thiruvananthapuram / Bhopal / CAS Nagpur.
(U.C.Jaiswal) Asstt.General Manager
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