Interest income scope expanded: deposits under notified government schemes and deposits with banking or co-operative banks included. The amendment inserts two clauses into sub-section (3) of Section 194A to include income credited or paid in respect of deposits under Central Government schemes notified in the Official Gazette, and income credited or paid in respect of deposits with banking companies or co-operative societies engaged in banking, including co-operative land mortgage and land development banks.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest income scope expanded: deposits under notified government schemes and deposits with banking or co-operative banks included.
The amendment inserts two clauses into sub-section (3) of Section 194A to include income credited or paid in respect of deposits under Central Government schemes notified in the Official Gazette, and income credited or paid in respect of deposits with banking companies or co-operative societies engaged in banking, including co-operative land mortgage and land development banks.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.