Notification no. 2/2025 dated 02.01.2025- Income tax

Central Board of Direct Taxes (CBDT) issued notification no. 2/2025 dated 02.01.2025 vide which the Central Government notifies that no deduction of income-tax under Chapter XVII of the said Act shall be made on the payments received by a credit guarantee fund established and wholly financed by the Central Government and managed by the National Credit Guarantee Trustee Company Limited as referred to in sub-clause (ii) of clause (46B) of section 10 of the said Act.