01 January 2010
Dear all, Please help me out whether payment to Container corporation of India Limited in respect of Freight Attracts or not .Please tell me applicaple section also
04 January 2010
Plz refer Sec 196 of Income Tax Act.
It clearly says that no deduction of Tax shall be made by any person from any sums payable to Govt. or RBI, 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.
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