The Ministry of Finance (MoF) on December 18, 2024, issued the notification regarding the deduction on any payment received by the Credit Guarantee Fund Trust for Micro and Small Enterprises
The following has been stated namely: -
• No deduction of income-tax shall be made under Chapter XVII of the said Act which states “Collection and Recovery of Tax” on any payment received by the Credit Guarantee Fund Trust for Micro and Small Enterprises as referred to in clause (46B) of section 10 of the said Act.
This notification shall come into force on December 18, 2024.
[Notification No. S.O. 5476(E)]
