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of <h1>No Income Tax Deduction on Payments to Government-Financed Credit Guarantee Fund per Section 197A Notification.</h1> The Central Government has issued a notification under sub-section (1F) of section 197A of the Income-tax Act, 1961, stating that no income-tax deduction under Chapter XVII will be made on payments received by a credit guarantee fund. This fund is established and fully financed by the Central Government and managed by the National Credit Guarantee Trustee Company Limited, as specified in sub-clause (ii) of clause (46B) of section 10 of the Act. The notification becomes effective from its publication date in the Official Gazette.
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