CBDT Circular on exemption from TDS provisions under section 197

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Order under section 119(1) of the Income-tax Act, 1961 regarding exemption from the TDS provisions under section 197 read in conjunction with section 10(26BBB) of Income-tax Act, 1961

CIRCULAR NO. 7/2008, DATED 1-8-2008

In exercise of the powers conferred under sub-section (1) of section 119 of Income-tax Act, 1961, Central Board of Direct Taxes hereby directs that corporations which are established by a Central, State or Provincial Act for the welfare and economic upliftment of ex-servicemen and whose income qualifies for exemption from income-tax under section 10(26BBB) of the Income-tax Act, 1961, are hereby given exemption from Tax Deduction/Collection at Source on their receipts.

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