No deduction of income-tax under Chapter XVII on the payments received by the National Credit Guarantee Trustee Company Limited
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 1/2025
New Delhi, the 2nd January, 2025
(INCOME-TAX)
S.O. 19(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 the National Credit Guarantee Trustee Company Limited, being a company established and wholly financed by the Central Government for the purposes of operating credit guarantee funds established and wholly financed by the Central Government as referred to in sub-clause (i) 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. 275/25/2023-IT(B)]
RUBAL SINGH, Dy. Secy. (IT-Budget)
Download CBDT Notification No. 1/2025 Click Here >>
The prima facie satisfaction u/s 148 cannot be stretched to a non-existing information or incorrect information - ITAT In a…
Mutual Funds to value physical Gold and Silver by using the polled spot prices published by the recognized stock exchanges…
Supreme Court allows simultaneous CIRP proceedings against principal debtor and its corporate guarantor, declines to frame any guidelines In a…
Merely because assessee had declared sales for only one month, the same cannot be treated as bogus on the basis…
ITAT deleted addition as the method of accounting had been accepted by the department in earlier years and the entire…
Orders passed under Benami Act cannot be challenged under Insolvency and Bankruptcy Code, 2016 - SC In a recent judgment,…