30 December 2009
plz solve it- if a company have a expected tax liability for the f-y 2009-10 (rs 1250000), now company have deposited advance tax rs 1250000 and tds already deducted by rs 250000,,,, now on recipt of rs 10000000, one party want to deduct tds as a professional fees on company @ 10 %, my question is can I give any certificate to that party to show that my tax liability is already fulfilled so not to deduct tds on rs 10000000... if we take lower tds deduction certificate now , so that lower deduction certificate applicable for prospective date or from retrospective date ....
30 December 2009
u can apply for the lower tax deduction certificate and it will come into fource from the date it is issued and not retrospective date or the period mentioned in the lower deduction certificate
30 December 2009
You cannot give any certificate to the party. You can apply for lower /nil tax deduction certificate. The ccertificate will be applicable from the current date and not from retrospective date.
CAclubindia
