Notification No. 123/2024 [F. No. 275/39/2021-IT(B)] / 5121(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)]

What this is

Notification No. 123/2024 [F. No. 275/39/2021-IT(B)] / 5121(E) was published on 28 November 2024. Its subject is 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)].

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.194N	s.393, s.400

The instrument, as the Board published it

The department publishes this one only as a PDF, so the words below were read out of that PDF by machine. That reading can carry its own mistakes — a misread number, a broken line. Check the signed document before you rely on a figure in it.

2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]

MINISTRY OF FINANCE
(Department of Revenue)

NOTIFICATION

New Delhi, the 28th November, 2024

INCOME-TAX

S.O. 5121(E).—In exercise of the powers conferred by the fifth proviso to section 194N of the Income-tax Act, 1961 (43 of 1961) (hereafter in this notification referred to as the said Act), the Central Government after consultation with the Reserve Bank of India, hereby specifies that the provisions of section 194N of the said Act shall not apply to Foreign Representations duly approved by the Ministry of External Affairs of the Government of India including Diplomatic Missions, agencies of the United Nations, International Organisations, Consulates and Offices of Honorary Consuls which are exempt from paying taxes in India as per the Diplomatic Relations (Vienna Convention) Act 1972 (43 of 1972) and the United Nations (Privileges and Immunities) Act 1947 (46 of 1947).

2. The notification shall be deemed to have come into force with effect from the 1st day of December, 2024.

[Notification No. 123/2024/F. No. 275/39/2021-IT(B)]

RUBAL SINGH, Dy. Secy. (IT-Budget)

Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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.

Circular No. 14/2020 — Clarification in relation to notification issued under clause (v) of proviso to section 194N of the Income-tax Act, 1961 20 July 2020
Notification No. 80/2019 [F.No. 370142/12/2019-TPL (Part 2)] / SO 3719(E) — Ministry of Finance 15 October 2019
Notification No. 74/2019 [F.No.370142/18/2019-TPL] / GSR 694(E) — Ministry of Finance 27 September 2019
Notification No. 70/2019/F. No. 370142/12/2019-TPL (Part-1), SO 3427(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 20 September 2019
Notification No. 68/2019 [F.No.370142/12/2019-TPL]/SO 3356(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 18 September 2019

← Notification No. 124/2024 [F. No. 370142/13/2024-TPL(Part)] / GSR 739(E) · Notification No. 122/2024 [F. No. 225/68/2024-ITA.II] / SO 5074(E) →

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.