ORDER UNDER SECTION 119(1) OF THE I.T. ACT, 1961 REGARDING EXEMPTION FROM THE TDS PROVISIONS UNDER SECTION 197

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