MINISTRY OF FINANCE
(Department of Revenue)
New Delhi, the 18th September, 2019
S.O. 3356(E).—In exercise of the powers conferred by clause (v) of proviso to section 194N of the Income-tax Act, 1961 (43 of 1961), the Central Government after consultation with the Reserve Bank of India, hereby specifies Cash Replenishment Agencies (CRA’s) and franchise agents of White Label Automated Teller Machine Operators (WLATMO’s) maintaining a separate bank account from which withdrawal is made only for the purposes of replenishing cash in the Automated Teller Machines (ATM’s) operated by such WLATMO’s and the WLATMO have furnished a certificate every month to the bank certifying that the bank account of the CRA’s and the franchise agents of the WLATMO’s have been examined and the amounts being withdrawn from their bank accounts has been reconciled with the amount of cash deposited in the ATM’s of the WLATMO’s.
2. The notification shall be deemed to have come into force with effect from the 1st day of September, 2019.
[Notification No. 68/2019/F. No. 370142/12/2019-TPL]
SAURABH GUPTA, Under Secy. (Tax Policy and Legislation Division)
Explanatory Memorandum: It is certified that no person is being adversely affected by giving retrospective effect to this notification.