Section 16. Every person empowered to pay such interest shall deduct the duty at the place where the interest is paid,

16. Every person empowered to pay such interest shall deduct the duty at the place where the interest is paid, and shall, as soon as may be after making such deduction, pay the same to the credit of the Government of India, or as such Government from time to time directs: Proviso. Provided that no such duty shall be deducted from the interest on any such security where the owner thereof produces a certificate signed by the Collector that his annual income, including such interest, is less than seven hundred and fifty rupees.