Re:TDS waiver.............
This query is : Resolved
CA deepika
(Querist)
23 August 2008
hi
if TDS is deducted at 15.45% then for a year TDS paid will be around 95000 but the actual tax to be paid by them will be aroud 45000 so they will get a refund of 50000,so instead of getting a refund can they claim for tds waiver
if TDS is deducted at 15.45% then for a year TDS paid will be around 95000 but the actual tax to be paid by them will be aroud 45000 so they will get a refund of 50000,so instead of getting a refund can they claim for tds waiver
Aman Mirza
(Expert)
23 August 2008
Yes but they have to take exemption certificate from the Income tax department after furnishinf the deatils total deduction of tax i.e (TDS/TCS) and actual tax liability and other statutory requirements after that ITO will issue exemption certificate or low rate TDS certificate , reference to section 197(1) of Income tax Act 1961
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