Requirement of deduction of income-tax at source u/s. 193 of IT Act-Payment of income by way of interest on securities to Ramakrishna Math and Ramakrishna Mission whose income is exempt u/s. 10(23C)(iv) of the IT Act, 1961
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TDS exemption on interest from government securities for exempt religious institutions; payments can be made without tax deduction. The revenue board directed that interest on securities of the Central and State Governments payable to Ramakrishna Math and Ramakrishna Mission, being institutions exempt under clause (iv) of section 10(23C), may be paid without deduction of income-tax at source, and that this administrative direction applies from the current financial year.
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.
TDS exemption on interest from government securities for exempt religious institutions; payments can be made without tax deduction.
The revenue board directed that interest on securities of the Central and State Governments payable to Ramakrishna Math and Ramakrishna Mission, being institutions exempt under clause (iv) of section 10(23C), may be paid without deduction of income-tax at source, and that this administrative direction applies from the current financial year.
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