Credit Guarantee Fund Trust for Micro and Small Enterprises notified under clause xiv of Sec 36(1) of the IT Act
Vide Finance Act 2007, a new clause (xiv) has been inserted in Sub section (1) of Section 36 ( other deductions) of the IT Act as under:
(xiv) any sum paid by a public financial institution by way of contribution to such credit guarantee fund trust for small industries as the Central Government may, by notification in the Official Gazette, specify in this behalf.
Now, vide Notification , Dated: September 18, 2007 the Government has notified the Credit Guarantee Fund Trust for Micro and Small Enterprises for the purpose of the above clause.