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of <h1>Exemption Granted for Tax Deduction at Source on Payments to Specific Trusts in Bangalore for FY 2002-03, 2003-04.</h1> The circular No. 12/2002, dated 22-11-2002, issued by the Board, grants exemption from the requirement of deducting income-tax at source for payments made to certain trusts and institutions in Bangalore. These include the Sri Sathya Sai Central Trust, Sri Sathya Sai Medical Trust, and Sri Sathya Sai Institute of Higher Learning. Their incomes, exempt under section 10(23C) of the Income-tax Act, 1961, cover interest (excluding interest on securities), rent, and income from specified mutual funds. This exemption applies for the financial years 2002-03 and 2003-04, corresponding to assessment years 2003-04 and 2004-05.
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