No tax deduction from payments to government, exempt corporations and specified mutual funds, including unit-holder payments. Section 196 is substituted to prohibit tax deduction at source on payments of interest, dividend or other income payable to the Government, the Reserve Bank, Central Act corporations exempt from income-tax, and Mutual Funds specified under section 10(23D). Section 196A bars public sector banks and public financial institutions from deducting tax from sums payable to unit-holders of such specified Mutual Funds.
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.
No tax deduction from payments to government, exempt corporations and specified mutual funds, including unit-holder payments.
Section 196 is substituted to prohibit tax deduction at source on payments of interest, dividend or other income payable to the Government, the Reserve Bank, Central Act corporations exempt from income-tax, and Mutual Funds specified under section 10(23D). Section 196A bars public sector banks and public financial institutions from deducting tax from sums payable to unit-holders of such specified Mutual Funds.
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