CBDT Circular: No TDS Deduction Required on Guarantee Commission Paid to Banks, Retrospective Relief for Assessees u/s 40(a)(ia.

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Full Text of the Document

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....Non deduction of TDS on guarantee commission paid to Bank - CBDT Circular removing the hardship in favour of the assessee has to be treated as retrospective - No disallowance u/s 40(a)(ia) can be made for non deduction of TDS.....