CBDT Grants Exemption from TDS on the Payments of Certain Categories to Mitigate Compliance Burden on Businesses Held by Individuals, Firms or Corporate Etc Who are Using the Financial Services Offered by Banks
To mitigate compliance burden on businesses held by individuals, firms or corporate etc who are using the financial services offered by banks, the Central Board of Direct Taxes (CBDT) has issued a notification u/s 197A(1F) granting exemption from tax deduction at source (TDS) on the payments of certain categories. Payment towards bank guarantee commission, cash …