Income Tax Act, 1961
Section 9: Subs. by Act 22 of 1995, s. 33, for clause (vii) (w.e.f. 11995).
9. Subs. by Act 22 of 1995, s. 33, for clause (vii) (w.e.f. 11995).
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(viia) to such income credited or paid in respect of,—
(a) deposits with a primary agricultural credit society or a primary credit society or a cooperative land mortgage bank or a co-operative land development bank;
(b) deposits (other than time deposits made on or after the 1st day of July, 1995) with a cooperative society, other than a co-operative society or bank referred to in sub-clause (a), engaged
in carrying on the business of banking;]]
1[(viii) to such income credited or paid by the Central Government under any provision of this
Act or the Indian Income-tax Act, 1922 (11 of 1922), or the Estate Duty Act, 1953 (34 of 1953), or
the Wealth-tax Act, 1957 (27 of 1957), or the Gift-tax Act, 1958 (18 of 1958), or the Super Profits
Tax Act, 1963 (14 of 1963), or the Companies (Profits) Surtax Act, 1964 (7 of 1964), or the
Interest-tax Act, 1974 (45 of 1974);]
2[(ix) to such income credited by way of interest on the compensation amount awarded by the
Motor Accidents Claims Tribunal;
(ixa) to such income paid by way of interest on the compensation amount awarded by the Motor
Accidents Claims Tribunal where the amount of such income or, as the case may be, the aggregate of
the amounts of such income paid during the financial year does not exceed fifty thousand rupees;]
3[(x) to such income which is paid or payable by an infrastructure capital company or
infrastructure capital fund or a public sector company 4[or scheduled bank] in relation to a zero
coupon bond issued on or after the 1st day of June, 2005 by such company or fund or public sector
company 4[or scheduled bank];]
5[(xi) to any income by way of interest referred to in clause (23FC) of section 10.]
6[Explanation 1.—For the purposes of clauses (i), (vii) and (viia), “time deposits” means deposits
(7[including] recurring deposits) repayable on the expiry of fixed periods.
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1[(4) The person responsible for making the payment referred to in sub-section (1) may, at the time of
making any deduction, increase or reduce the amount to be deducted under this section for the purpose of
adjusting any excess or deficiency arising out of any previous deduction or failure to deduct during the
financial year.]
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(w.e.f. 11995).
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to such income credited or paid in respect of,—
deposits with a primary agricultural credit society or a primary credit society or a cooperative land mortgage bank or a co-operative land development bank;
deposits (other than time deposits made on or after the 1st day of July, 1995) with a cooperative society, other than a co-operative society or bank referred to in sub-clause
to such income credited or paid by the Central Government under any provision of this
Act or the Indian Income-tax Act, 1922 (11 of 1922), or the Estate Duty Act, 1953 (34 of 1953), or
the Wealth-tax Act, 1957 (27 of 1957), or the Gift-tax Act, 1958 (18 of 1958), or the Super Profits
Tax Act, 1963 (14 of 1963), or the Companies
Surtax Act, 1964 (7 of 1964), or the
Interest-tax Act, 1974 (45 of 1974);]
2[
to such income credited by way of interest on the compensation amount awarded by the
Motor Accidents Claims Tribunal;
to such income paid by way of interest on the compensation amount awarded by the Motor
Accidents Claims Tribunal where the amount of such income or, as the case may be, the aggregate of
the amounts of such income paid during the financial year does not exceed fifty thousand rupees;]
3[
to such income which is paid or payable by an infrastructure capital company or
infrastructure capital fund or a public sector company 4[or scheduled bank] in relation to a zero
coupon bond issued on or after the 1st day of June, 2005 by such company or fund or public sector
company 4[or scheduled bank];]
5[
to any income by way of interest referred to in clause
of section 10.]
6[Explanation 1.—For the purposes of clauses
and
The person responsible for making the payment referred to in sub-section
may, at the time of
making any deduction, increase or reduce the amount to be deducted under this section for the purpose of
adjusting any excess or deficiency arising out of any previous deduction or failure to deduct during the
financial year.]
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