Big relief for ST community! Centre relaxes TDS provisions of Income-Tax Act
The Centre has relaxed the provisions of Income-Tax Act, 1961 Act in relation to the payment of interest regarding TDS by Scheduled Bank to a member of Scheduled Tribe (ST) community on Friday.
no deduction of tax shall be made on the following payment under section 194A of the Act, namely payment in the nature of interest, other than interest on securities, made by a Scheduled Bank. Source: Pixabay