Govt. Notification Designates Rural Electrification Corp. Ltd. for Tax Deduction at Source under Section 194A of Income-tax Act.
The Central Government, exercising its authority under Section 194A of the Income-tax Act, 1961, has issued Notification No. 1/2010 dated January 4, 2010. This notification designates the Rural Electrification Corporation Ltd., New Delhi, under sub-clause (f) of clause (iii) of sub-section (3) of Section 194A. This section pertains to the deduction of tax at source on interest other than interest on securities. The notification aims to specify the applicability of tax deduction provisions for the corporation in question.
Full Summary is availble for active users!
Note: It is a system-generated summary and is for quick
reference only.