Banking Company definition clarifies which entities fall within regulatory scope for cash transaction restrictions under income tax compliance. For the purposes of section 269SS of the Income-tax Act, Banking Company means a company to which the Banking Regulation Act, 1949 applies and includes ... Summary
Banking Company definition clarifies which entities fall within regulatory scope for cash transaction restrictions under income tax compliance.
For the purposes of section 269SS of the Income-tax Act, Banking Company means a company to which the Banking Regulation Act, 1949 applies and includes any bank or banking institution referred to in section 51 of that Act.
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