WE ARE RECEIVING A RENT AMOUNT AFTER DEDUCTING T.D.S ............ WATS THE PROCEDURE IF WE WANNA TO AVOID DEDUCTION OF T.D.S ????
THANK YOU IN ADVANCE ..
Regards,
Varun Makhija
8 Replies
Brahma Reddy
(Manager Accounts)
(57 Points)
Replied 01 July 2009
ok i will tell u the best way but before that can u tell me the amount how much u r receiving.
praveen
(Chartered Accountant)
(6971 Points)
Replied 01 July 2009
certificate for lower deduction or no deduction can be claimed only when there is little income which is not taxable fully or partly.
You need to give the full amounts to advise you
VARUN
(PCC STUDENT)
(523 Points)
Replied 01 July 2009
okkies .... the exact amount of rent is Rs. 30,000/-
Yogesh Shah
(Managing Corporate Finance)
(1051 Points)
Replied 01 July 2009
I agree with Anand. Form No. 13 will be sufficient.
Ankit Rungta
(Student CA Final)
(79 Points)
Replied 01 July 2009
Well, My dear respected seniors.
I would like to state that Form15(G) if duly filled and given to the payer of the rent, then it will suffice Payer a reason not to deduct the TDS, and give the payee the full amount of rent.
Form15(G) can be filled only when the total income of the payee does not exceed the taxable slab, the losses if any wont be considered in calculating the total income over here.
I would suggest submitting Form15(G) for no deduction of TDS. The payee will need to submit the form to the ITO by the 7th of next month.
If your total income(not including losses) is above the taxable slab, then i am sorry to say Form15(G) facility can not be provided in the case.
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