https://www.taxtmi.com/caselaws?id=798557 Interest paid or credited to bodies constituted under Central, State or Provincial legislation qualifies for the notified tax-deduction exemption because statutory creation, rather than mere incorporation or regulation under general law, is decisive. The exemption also applies independently to companies whose entire share capital is Government-held. Interest earned on Government scheme funds held by companies solely as nodal or implementing agencies is not their income where beneficial ownership remains with Government; no tax-deduction obligation arises. Payments to temples require recipient-wise verification of declarations, tax returns, condonation materials and other evidence before relief from default can be determined under the first proviso to section 201(1). en-us Wed, 01 Jul 2026 00:00:00 +0530 Wed, 09 Sep 2026 12:22:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798557 Interest paid or credited to bodies constituted under Central, State or Provincial legislation qualifies for the notified tax-deduction exemption because statutory creation, rather than mere incorporation or regulation under general law, is decisive. The exemption also applies independently to companies whose entire share capital is Government-held. Interest earned on Government scheme funds held by companies solely as nodal or implementing agencies is not their income where beneficial ownership remains with Government; no tax-deduction obligation arises. Payments to temples require recipient-wise verification of declarations, tax returns, condonation materials and other evidence before relief from default can be determined under the first proviso to section 201(1). Case-Laws Income Tax Wed, 01 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798557