Specified bank status depends on Central Government notification for defined tax deduction and collection purposes under income-tax law. Specified bank for TDS/TCS purposes under the Income-tax Act, 2025 means a banking company specifically notified by the Central Government. Under the ... Summary
Specified bank status depends on Central Government notification for defined tax deduction and collection purposes under income-tax law.
Specified bank for TDS/TCS purposes under the Income-tax Act, 2025 means a banking company specifically notified by the Central Government. Under the Income-tax Act, 1961, the expression in the context of tax deduction for certain senior citizens likewise means a banking company specified by Central Government notification in the Official Gazette.
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