Notifications & Circulars
Ministry of Finance
02.09.2021
Banking
Notification regarding specified bank to mean a banking company which is a scheduled bank and has been appointed as an agent under Section 45 of Reserve Bank of India Act, 1934
MANU/CBDT/0109/2021
In exercise of the powers conferred by clause (a) of Explanation to section 194P of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies specified Bank to mean a banking company which is a scheduled bank and has been appointed as agents of Reserve Bank of India under section 45 of the Reserve Bank of India Act, 1934 (2 of 1934).
Explanation: For the purpose of this notification,--
1. "banking company" shall have the meaning assigned to it in clause (a) of section 45A of the Reserve Bank of India Act, 1934 (2 of 1934);
2 "scheduled bank" shall have the meaning assigned to it in clause (e) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934).
2. This notification shall come into force from the date of publication in the Official Gazette.
Tags : Specified bank Banking company Notification
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