Re:TDS waiver.............

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CA deepika (Querist)
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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

Aman Mirza

Aman Mirza (Expert)
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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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