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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to Section 197 of Income-tax Act: Lower or No Tax Deduction for Sections 194LBB and 194LBC from June 2016.</h1> Clause 83 of the Finance Bill, 2016 amends section 197 of the Income-tax Act to include references to sections 194LBB and 194LBC. Effective from June 1, 2016, this amendment allows the Assessing Officer to issue a certificate for deduction at a lower rate or no deduction of income tax if the recipient's total income justifies it. This applies when income tax is required to be deducted at the time of credit or payment under the provisions of sections 194LBB and 194LBC, upon application by the assessee.
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