28 September 2013
Section 269SS will not be applied on if both party having agricultural income and neither of them has any income chargeable to tax under this Act.
29 September 2013
Exemptions from section 269SS: The Following persons are exempted from the purview of section 269SS:
a) Government ; (b) any banking company, post office savings bank or co-operative bank ; (c) any corporation established by a Central, State or Provincial Act ; (d) any Government company as defined in section 617 of the Companies Act, 1956 (e) other notified insititutions (f) where the depositor and the acceptor are both having agricultural income and neither of them have any taxable income.