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.
  1. No deduction of tax shall be made by any person from any sums payable to -
    1. the Government; or
    2. the Reserve Bank of India; or
    3. 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
    4. a Mutual Fund specified under section 10(23D).
  2. This provision for non-deduction is when such sum is payable to the above entities by way of -
    1. interest or dividend in respect of securities or shares -
      1. owned by the above entities; or
      2. in which they have full beneficial interest or
    2. any income accruing or arising to them.
Posted by CA Ankit Sharma under Income-Tax

I am CA, you can contact me for resolving all your tax queries. Reach me at Check Profile

No comments yet, be first to comment.

You need to be logged in to comment.