Notification No. 71/2020 [F. No. 225/136/2020-IT A.II]

Last updated: 02 September 2020

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The Central Government has specified 'Scheduled Commercial Banks' listed in the Second Schedule of the Reserve Bank of India Act, 1934. This specification is made in accordance with sub-clause (ii) of clause (a) of sub-section (I) of Section 138 of the Income-tax Act, 1961. This notification clarifies which banks are designated for the purposes of the said clause.

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)]

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

New Delhi, the 31st August,2020

NOTIFICA TION

S.O. (E): In pursuance of sub-clause (ii) of clause (a) of sub-section (I) of Section 138 of the Income-tax Act, 1961 , the Central Government hereby specifies "Scheduled Commercial Banks" listed in the Second Schedule of the Reserve Bank of India Act, 1934 for the purposes of the said clause.

(Rajarajeswari R.)

Under Secretary, ITA-II, CBDT

F. No. 22S/136/2020-IT A.II

Notification No. 71 \ 12020

The Manager,

Government of India Press,

Mayapuri, New Delhi

Copy forwarded to: -

1. PPS to FM/Dir(FMO)/OSD TO MaS (R)/PPS to RS/PPS to chairman CBOT and all Membe CBDT

2. Head offices of all Scheduled Commercial Banks

3. Pr. DGIT (Systems), New Delhi

4. All Pr. CCs/T/DGsIT for kind information

5. /TCC, Central Board of Direct Taxes (4 copies)

6. ADG (S)-4, New Delhi, for placing on the website: www.incometaxindia aov in

7, Guard File

(Rajarajeswari R)

Under Secretary, (ITA-H), CBDT

FAQ :

This notification specifies 'Scheduled Commercial Banks' for the purposes of sub-clause (ii) of clause (a) of sub-section (I) of Section 138 of the Income-tax Act, 1961.

Scheduled Commercial Banks listed in the Second Schedule of the Reserve Bank of India Act, 1934, are specified.

The specification is made in pursuance of sub-clause (ii) of clause (a) of sub-section (I) of Section 138 of the Income-tax Act, 1961.

The notification was issued by the Central Government, through the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes.