Which of the following statements is not correct ?

A X is an individual assessee. He pays a monthly rent of ` 10,000 pm. He cannot deduct tax at source.

B On salaries, tax is deducted at source according to provisions of Sec. 192.

C No tax is deducted at source in respect of interest on securities issued by a domestic company.

D Bank will deduct tax at source @ 10% if bank fixed deposit’s interest credit is more than ` 10,000 in a year

Answer & Explanation
Answer:No tax is deducted at source in respect of interest on securities issued by a domestic company.

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