1012. Exemption from requirement of deduction of income-tax at source on payment to Ramakrishna Math and Ramakrishna Mission, Kolkata, whose income is exempt under section 10(23C)(iv) of the Income-tax Act, 1961
1. Vide Circular No. 3/2002, CBDT had allowed Ramakrishna Math and Ramakrishna Mission, Kolkata, to receive incomes without tax deduction at source under sections 193, 194A and 194K. In para 2 of the said Circular it has been stated that the incomes by way of interest on securities of the Central and State Governments may be paid to the said assessees without tax deduction at source.
2. It is further clarified that interest on all securities covered under section 193 may be paid to Ramakrishna Math and Ramakrishna Mission without tax deduction at source. These securities shall also include securities of Central and State Governments already specified vide Circular No. 3/2002.
Circular : No. 11/2002, dated 22-11-2002.
