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TMI BlogRequirement of tax deduction at source in case of entities whose income is exempted under Section 10 of the Income-tax Act, 1961 - Exemption thereofX X X X Extracts X X X X X X X X Extracts X X X X ..... th Block, New Delhi 29th May, 2017 Subject: Requirement of tax deduction at source in case of entities whose income is exempted under Section 10 of the Income-tax Act, 1961 - Exemption thereof. The Central Board of Direct Taxes (the Board) had earlier issued Circular No. 4/2002 dated 16.07.2002 and Circular No. 7/2015 dated 23.04.2015 which laid down that in case of such entities ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ake the following changes: Entities that meet both the above mentioned conditions but are not mentioned in the aforesaid Circulars need to be included in the list of exempted entities. Entities that are mentioned in Circular No. 4/2002 but their exemption from income tax has since been withdrawn need to be removed from the list of exempted entities. Entities that are mentioned in Ci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orily not required to file return of income as per section 139 of the Income-tax Act , there would be no requirement for tax deduction at source, since their income is anyway exempt under the Income-tax Act - (i) local authority , as referred to in the Explanation to clause (20); (ii) Regimental Fund or Non-public Fund established by the armed forces of the Union referred to in clause ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter's Fund (Promotion of Folk Art) referred to in sub-clause (ii), Prime Minister's Aid to Students Fund referred to in sub-clause (iii), National Foundation for Communal Harmony referred to in sub-clause (iiia), Swachh Bharat Kosh referred to in sub-clause (iiiaa), Clean Ganga Fund referred to in sub-clause (iiiaaa) of clause (23C); (xi) Provident fund to which the Provident Funds Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lfare and economic upliftment of ex-servicemen referred to in clause (26BBB); (xvii) New Pension System Trust referred to in clause (44). 4. This circular supersedes earlier Circulars on this issue e.g. Circular No. 4/2002 dated 16.07.2002 and Circular No. 7/2015 dated 23.04.2015 with effect from the date of issue of this Circular. 5. Hindi version shall follow. (Sandeep Singh) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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