Section 197A of the income-tax Act, 1961 - Deduction of tax at source - no deduction in certain cases - Specified payment under section 197A (1F) - if payment is made to a bank listed in the Second Schedule to the Reserve Bank of India Act, 1934

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..... BOARD OF DIRECT TAXES) NOTIFICATION No. 47/2016 New Delhi, the 17th June, 2016 INCOME TAX S.O. 2143 (E).- In exercise of the powers conferred by sub-section (1F) of section 197A of the Income-tax Act, 1961 (43 of 1961) and in supersession of the notification of the Government of India, Ministry of Finance (Department of Revenue) number S.O. 3069 (E) dated 31st December, .....

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..... underwriting service charges; (vi) clearing charges (MICR charges) including interchange fee or any other similar charges by whatever name called charged at the time of settlement or for clearing activities under the Payment and Settlement Systems Act, 2007; (vii) credit card or debit card commission for transaction between merchant establishment and acquirer bank. 2. This notification s .....

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