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of <h1>New Rule 37CB Exempts Certain Buyers from Section 206C(1D) of Income-tax Act 1961 for Goods and Services Sales.</h1> The Income-tax (21st Amendment) Rules, 2016, issued by the Central Board of Direct Taxes, amend the Income-tax Rules, 1962. Effective upon publication in the Official Gazette, the amendment introduces Rule 37CB, specifying classes of buyers exempt from sub-section (1D) of section 206C of the Income-tax Act, 1961. These exemptions apply to the sale of goods or services, excluding bullion and jewelry, and include the Government, foreign embassies, consulates, high commissions, and institutions recognized under the United Nations (Privileges and Immunities) Act, 1947.
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