notification no. 68/2019 f.no.370142/12/2019 tpl /so 3356 e exemption to cash replenishment agencies cra s and franchise agents of white label automated teller machine operators wlatmo s under clause v of the proviso to section 194n of the income tax act

2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 18th September, 2019 INCOME-TAX 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that the bank account of the CRA’s and the franchise agents of the WLATMO’s have been examined and the amounts being withdrawn from their bank accounts has been reconciled with the amount of cash deposited in the ATM’s of the WLATMO’s. 2.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. 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.