Section 196 - No TDS in case interest or dividend or other sums payable to Government, Reserve Bank or certain corporations - Income Tax - Ready Reckoner - Income Tax

Section 196 - No TDS in case of sum Payable to Government, RBI, etc. No deduction of tax shall be made by any person from any sums payable to- the Government, or the Reserve Bank of India, or a corporation established by or under a Central Act which is, under any law for the time being in force, exempt from income-tax on its income, or a Mutual Fund specified u/s 10(23D) Any sum here means such sum as is payable to it by way of interest or dividend in respect of any securities or shares owned by it or in which it has full beneficial interest, or any other income accruing or arising to it.