Central Government specifies that no collection of tax shall be made under sub-section (1F) of section 206C of the IT Act on any payment received from the Reserve Bank of India. - 115/2024 - Income Tax Act, 1961
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Tax collection at source exemption for payments from the central bank - no TCS to be collected on such receipts. The Central Government, exercising its statutory specification power under the Income-tax Act, directs that no collection of tax at source shall be made on any payment received from the Reserve Bank of India; the notification applies to any such payment and comes into force on publication in the Official Gazette.
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 collection at source exemption for payments from the central bank - no TCS to be collected on such receipts.
The Central Government, exercising its statutory specification power under the Income-tax Act, directs that no collection of tax at source shall be made on any payment received from the Reserve Bank of India; the notification applies to any such payment and comes into force on publication in the Official Gazette.
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