No TDS on Payment Received by ‘NCGTC’ & Credit Guarantee Fund Managed by ‘NCGTC’ | CBDT
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- Last Updated on 7 January, 2025
Latest from Taxmann
Notification F. No. 1/2025 & Notification F. No. 2/2025, dated 02-01-2025
The Central Government exempts income-tax deduction under Chapter XVII of the Income Tax Act on payments received by the National Credit Guarantee Trustee Company Limited, which is established and wholly funded by the Central Government for managing credit guarantee funds, also established and fully financed by the Central Government, as specified in Section 10(46B)(i).
The exemption also extends to payments received by a credit guarantee fund established and fully funded by the Central Government, which is managed by the National Credit Guarantee Trustee Company Limited, as specified in Section 10(46B)(i).
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