Notification No. 128/2024, dated 19-12-2024
Section 197A prescribes that no deduction of tax shall be made, or deduction of tax shall be made at such lower rate, from such payment to such person or class of persons, including institution, association or body or class of institutions, associations or bodies, as may be notified by the Central Government in the Official Gazette, in this behalf.
In this regard, the Central Board of Direct Taxes (CBDT) has notified that no TDS shall be deducted under Chapter XVII on any payment received by the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). The notification has been issued in exercise of the powers conferred by section 197A(1F).
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