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No Tax Deduction for Payments to Banks u/s 197A(1F) of Income-tax Act: Facilitating Financial Transactions.

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....Section 197A of the income-tax Act, 1961 - Deduction of tax at source - no deduction in certain cases - Specified payment under section 197A (1F) - if payment is made to a bank listed in the Second Schedule to the Reserve Bank of India Act, 1934 - Notification....

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