Requirement of tax deduction at source in case of corporations whose income is exempt under section 10 (26BBB) of the Income-tax Act, 1961- Exemption thereof.
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Tax deduction at source exemption for corporations with income exempt under section 10(26BBB) affirmed under existing TDS circular. Corporations covered by section 10(26BBB) that have unconditional income exemption and no statutory obligation to file income tax returns are entitled to the benefit of the prior administrative position in Circular No. 4/2002; accordingly, tax deduction at source need not be made on payments to such corporations.
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.
Tax deduction at source exemption for corporations with income exempt under section 10(26BBB) affirmed under existing TDS circular.
Corporations covered by section 10(26BBB) that have unconditional income exemption and no statutory obligation to file income tax returns are entitled to the benefit of the prior administrative position in Circular No. 4/2002; accordingly, tax deduction at source need not be made on payments to such corporations.
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