https://www.taxtmi.com/notifications?id=141693 No tax shall be deducted at source on specified payments to Units of an International Financial Services Centre where the payee claims deduction under the Section 80LA framework, provided the payee furnishes a verified statement cum declaration in Form No. 1 declaring the consecutive previous years for which the deduction is claimed; the payer shall stop deduction only after receipt of that form and must report all payments exempted from deduction in the prescribed statement. The relief applies only for the years declared in Form No. 1 and is subject to registration and regulatory definitions and secure data procedures to be prescribed by Income tax Systems authorities. en-us Thu, 07 Mar 2024 00:00:00 +0530 Fri, 08 Mar 2024 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=141693 No tax shall be deducted at source on specified payments to Units of an International Financial Services Centre where the payee claims deduction under the Section 80LA framework, provided the payee furnishes a verified statement cum declaration in Form No. 1 declaring the consecutive previous years for which the deduction is claimed; the payer shall stop deduction only after receipt of that form and must report all payments exempted from deduction in the prescribed statement. The relief applies only for the years declared in Form No. 1 and is subject to registration and regulatory definitions and secure data procedures to be prescribed by Income tax Systems authorities. Notifications Income Tax Thu, 07 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/notifications?id=141693