AIZAWL, March 20 - State Bank of India has revoked its decision to apply TDS (Tax Deducted at Source) scheme in Mizoram after the State�s most powerful NGO Young Mizo Association launched an indefinite protest from today.
SBI regional manager Dibyendu Chaudhuri, in a letter addressed to chairman of NGO Co-ordination Committee, said, �We have been apprised by our head office that those branches where TDS flag were to be made �Yes� will be reverted back to �No�, thereby maintaining status quo.�
The development was a result of an �initiation with our local head office and our Corporate Centre,� according to the letter.
The NGOs said that Scheduled Tribes (ST) in Northeastern States are exempted from paying income tax under Section 10 (26) of the Income Tax Act, 1961.
Volunteers of the NGOs started picketing SBI employees since today morning that prompted the bank authority to reverse its decision.
Following this, the NGOs called off the indefinite picketing of SBI employees.