Notification No. 56/2012 [F. NO. 275/53/2012-IT(B)]

Section 197A of the income-tax Act, 1961 - Deduction of tax at source - no deduction in certain cases - Specified payment under section 197A(1f)

What this is

Notification No. 56/2012 [F. NO. 275/53/2012-IT(B)] was published on 31 December 2012. Its subject is Section 197A of the income-tax Act, 1961 - Deduction of tax at source - no deduction in certain cases - Specified payment under section 197A(1f).

This notifies a named person, body, fund or instrument for the purpose of a provision. Nothing in it changes the provision itself.

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.197A	s.393, s.400, s.402

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

Section 197A of the income-tax Act, 1961 - Deduction of tax at source - no deduction in certain cases - Specified payment under section 197A(1f)
NOTIFICATION NO. 56/2012 [F. NO. 275/53/2012-IT(B)], DATED 31-12-2012
In exercise of the powers conferred by sub-section (1F) of section 197A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that no deduction of tax under Chapter XVII of the said Act shall be made on the payments of the nature specified below, in case such payment is made by a person to a bank listed in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), excluding a foreign bank, namely:-
(i) bank guarantee commission;
(ii) cash management service charges;
(iii) depository charges on maintenance of DEMAT accounts;
(iv) charges for warehousing services for commodities;
(v) underwriting service charges;
(vi) clearing charges (MICR charges);
(vii) credit card or debit card commission for transaction between the merchant establishment and acquirer bank.
2. This notification shall come into force from the Ist day of January, 2013.
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On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. S.O. 3288(E) [F. No. 275/27/2025-IT(B)] — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 18 July 2025
Notification No. 67/2025 [F. No. 275/38/2025-IT(B)] / S.O. 2768(E) — 4 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 20 June 2025
Notification No. 27/2025 [F. No. 370142/13/2025-TPL] / SO 1615(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 4 April 2025
Notification No. 1/2025 [F.No. 275/25/2023-IT(B)] / SO 19(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 2 January 2025
Notification No. 2/2025 [F.No. 275/110/2024-IT(B)] / SO 20(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 2 January 2025
Notification No. 128/2024 [F. No. 275/77/2024-IT(B)] / SO 5476(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 18 December 2024

← Notification No. 01/2013 · NOTIFICATION NO. 55/2012 [F.NO. 178/49/2009-ITA-I] →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.