Complianto Consulting

  • START BUSINESS
    • Private Limited Company
    • Limited Liability Partnership
    • Section 8 Company
    • Startup India Registration
    • One Person Company(OPC) Registration
    • Trust/NGO/Society Registration
    • Digital Signature (DSC)
  • LICENSES
    • GST Registration
    • MSME Registration
    • FSSAI Registration
    • Gem Portal Registration
    • CSR-1 Registration For NGOs
    • Shop and Establishment
    • ISO Certification (ISO)
  • TRADEMARK & IP
    • Trademark Registration
    • Trademark Objection Reply
  • Income Tax
    • Income Tax
      • Income Tax Return
    • 12A
      • Online 12A and 80G Registration
  • COMPLIANCES
    • Bookkeeping And Accounting
    • ROC Compliances AMC
    • LLP ROC Compliance AMC
    • OPC ROC Compliances AMC
  • LABOUR COMPLIANCES
    • PF Registration And Compliances
    • ESI Registration And Compliances
  • DIGITAL MARKETING
    • Digital Marketing and Services
  • Contact Us
  • Home
  • Blog
  • CBDT
  • No TDS u/s 194A on payment of interest by Scheduled Bank to Scheduled Tribe (ST)

No TDS u/s 194A on payment of interest by Scheduled Bank to Scheduled Tribe (ST)

Saturday, 18 September 2021 / Published in CBDT, Income Tax, News & Updates, Notification

No TDS u/s 194A on payment of interest by Scheduled Bank to Scheduled Tribe (ST)

The Central Board of Direct Taxes (CBDT) vide its Notification No 110/2021 [S.O. 3815(E)] dated 17th September 2021 notifies that no deduction of tax under section 194A of the Income Tax Act, 1961 on payment of interest by a scheduled bank located in a specified area to a member of Scheduled Tribe located in specified area.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 17th September, 2021
INCOME TAX

S.O. 3815(E).—In exercise of the powers conferred by sub-section (1F) of section 197A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that no deduction of tax shall be made on the following payment under section 194A of the said Act, namely payment in the nature of interest, other than interest on securities, made by a scheduled bank (hereinafter the “payer”) located in a specified area, to a member of Scheduled Tribe (hereinafter the “receiver”) residing in any specified area, as referred to in clause (26) of section 10 of the said Act, subject to the following conditions:

(i) the payer satisfies itself that the receiver is a member of Scheduled Tribe residing in any specified area, and the payment as referred above is accruing or arising to the receiver as referred to in clause (26) of section 10 of the said Act, during the previous year relevant for the assessment year in which the payment is made, by obtaining necessary documentary evidences in support of the same;

(ii) the payer reports the above payment in the statements of deduction of tax as referred to in subsection (3) of section 200 of the said Act;

(iii) the payment made or aggregate of payments made during the previous year does not exceed twenty lakh rupees.

Explanation.- For the purposes of this notification, the expression “scheduled bank” shall have the same meaning as assigned to it in clause (e) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934).

2. This notification shall come into force from the date of its publication in the Official Gazette.

[Notification No. 110/2021/F. No. 275/27/2021-IT(B)] ARVIND KUMAR MISHRA, Under Secy.

Tagged under: CBDT, Income Tax, News & Updates

What you can read next

SEBI (Substantial Acquisition of Shares and Takeovers) (Third Amendment) Regulations 2021
CBIC notifies the tariff value of specified goods 15-Dec-2021
Delhi Government amends Notification No 11/2021 – State Tax (Rate) dated 30th June 2017

Search for posts

Recent Posts

  • Compliance Calendar for June 2025

    0 comments
  • 9039

    0 comments
  • Compliance Calendar for April 2024

    0 comments

Recent Comments

    We support the Startup India initiative that aims
    to accelerate enterpreneurship in the
    country and create startup


    We support the Digital India initiative that aims
    to transform India into a digitally empowered society
    and knowledge economy

    We support the Make in India initiative that aims
    to promote India as the most
    preferred global manufacturing destination

    You manage business, we manage your compliances

    Our team is constantly working towards the highest level of compliance solutions for you.

    GET A QUOTE

    GET FREE CONSULTATION

    Our team is instrumental in ensuring 24*7 that Indian startups and MSMEs are fully compliant in this complex legal environment.

    We are continuously increasing our umbrella of services to provide one shop solution and therefore our services are ranging from registration then compliances to website development and digital marketing.

    Our Services

    • START BUSINESS
    • LICENSES
    • TRADEMARK & IP
    • Income Tax
    • COMPLIANCES
    • LABOUR COMPLIANCES
    • DIGITAL MARKETING
    • Contact Us

    Useful Links

    • About Us
    • Blog
    • Contact Us
    • Disclaimer
    • Privacy and Refund Policy
    • Terms and Conditions

    COMPANY INFO

    COMPLIANTO CNSULTING LLP

    Mon - Sat 10:30am - 7:30pm

    +91-78273-55027

    services@compliantoconsulting.com

    (Registered Address) H. NO. C-161, BHAGWATI VIHAR, Uttam Nagar, New Delhi,West Delhi, Delhi, India-110059

    Membership ID - 572272
    LLPIN-ABB-8579

    Incorporation Certificate

    WE'RE SOCIAL

    Complianto Consulting provides professional business incorporation and advisory services through our private portal (https://compliantoconsulting.com/). Our focus is on assisting entrepreneurs and businesses with company formation, compliance, and strategic growth.
    Our targeting of keywords related to company registration and business setup is purely intended to help clients understand our services. We do not provide or facilitate government document processing directly, nor are we affiliated with any government body.
    📌 We are a private business consultancy and not affiliated with any government body.
    📌 All company registrations are processed through the official MCA (Ministry of Corporate Affairs) portal.
    📌 Our role is to assist with documentation, compliance, and business structuring.
    Complianto Consulting is a private consulting firm, and all fees collected are for advisory and consultancy services rendered, including guidance on business incorporation, compliance best practices, and regulatory support.

    Copyright @ Complianto Consulting LLP. All rights reserved

    TOP
    Close

    Get Free Consultation 

    Offer

    WhatsApp us