No deduction of income-tax under Chapter XVII on payments received by a credit guarantee fund established and wholly financed by the Central Government and managed by the National Credit Guarantee Trustee Company Limited
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 2/2025
New Delhi, the 2nd January, 2025
(INCOME-TAX)
S.O. 20(E).—In exercise of the powers conferred by sub-section (1F) of section 197A of the Income-tax Act,1961 (43 of 1961) (hereinafter referred to as the said Act), the Central Government hereby notifies that no deduction of income-tax under Chapter XVII of the said Act shall be made on the payments received by a credit guarantee fund established and wholly financed by the Central Government and managed by the National Credit Guarantee Trustee Company Limited as referred to in sub-clause (ii) of clause (46B) of section 10 of the said Act.
2. This notification shall come into force from the date of its publication in the Official Gazette.
[F. No. 275/110/2024-IT(B)]
RUBAL SINGH, Dy. Secy. (IT-Budget)
Download CBDT Notification No. 2/2025 Click Here >>
AO was not justified in making addition by adopting method of extrapolation without bringing any material evidence in support -…
Court can not sit over comparative financial attractiveness of rival offers or to substitute its own view for the decision…
When quantum appeal stands restored to the AO, penalty can not be levied u/s 221(1) of the Income Tax Act…
Even if, the assessee is engaged in the bogus purchases, the entire purchases cannot be disallowed - ITAT In a…
Order to stock broker through WhatsApp may be considered as legally verifiable record - SEBI SEBI in an informal guidance…
ICAI Guidance Note on Audit of Banks 2026 Edition ICAI has issued 2025 edition of the Guidance Note on Audit…