TDS on Interest or dividend or other sums payable to Government, Reserve Bank or certain corporations [Section 196] | AY 2019-20 onwards
Last udpated: Jan. 15, 2019, 12:53 p.m.- No deduction of tax shall be made by any person from any sums payable to -
- the Government; or
- the Reserve Bank of India; or
- a corporation established by or under a Central Act, which is, under any law for the time being in force, exempt from income-tax on its income; or
- a Mutual Fund specified under section 10(23D).
- This provision for non-deduction is when such sum is payable to the above entities by way of -
- interest or dividend in respect of securities or shares -
- owned by the above entities; or
- in which they have full beneficial interest or
- any income accruing or arising to them.
- interest or dividend in respect of securities or shares -
Posted by CA Ankit Sharma under Income-Tax
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