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of <h1>Government Exempts Tax Collection on RBI Payments u/s 206C(1F) of Income-tax Act, Effective Immediately.</h1> The Central Government has issued a notification stating that no tax collection will be made under sub-section (1F) of section 206C of the Income-tax Act, 1961, on payments received from the Reserve Bank of India. This directive, issued by the Ministry of Finance's Department of Revenue and the Central Board of Direct Taxes, is effective from the date of its publication in the Official Gazette.
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