Section 194H of the Income-tax Act, 1961 - Commission or brokerage - Clarifications regarding Turnover Commission payable by RBI to Agency Banks - exemption from TDS

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..... Circular : No. 6/2003, dated 3-9-2003 . The work of receipt of tax payments and issue of refunds is conducted by the Banks authorized for such purposes by the Reserve Bank of India (RBI). As a compensation for the work so conducted, the Central Government pays to the Banks, through RBI, commission termed as Turnover Commission. It has been represented to the Board that the requirement o .....

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