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Requirement of tax deduction at source in case of corporations whose income is exempt under section 10 (26BBB) of the Income-tax Act 1961- Exemption thereof.

Income Tax - 07/2015 - Dated:- 23-4-2015 - Circular No. 07/2015 F. No. 275/50/2006 IT (B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi 23 April, 2015 Subject: The Central Board of Direct Taxes (the Board) had earlier issued Circular No. 4/2002 dated 16.07.2002 which laid down that in case of such entities, whose income is unconditionally exempt under section 10 of the Income-tax Act (the Act) and who are statutorily not requir .....

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for the welfare and economic upliftment of ex-servicemen being the citizens of India. The corporations covered under section 10(26BBB) are also statutorily not required to file return of income as per section 139 of the Act. References have been received in the Board requesting for extension of the aforesaid exemption from TDS granted vide Circular No.4/2002 to the corporations covered under section 10(26BBB) as well. 3. The matter has been examined by the Board. It has now been decided that sin .....

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