one of my companies has an amount in FD on which TDS is deducted but the co is loss making , we get refund at the end of the year but is there any way we can not get tds deducted so that we dont lose on time when we get refund
Anjali Saigal (Accountant) (125 Points)
30 October 2008one of my companies has an amount in FD on which TDS is deducted but the co is loss making , we get refund at the end of the year but is there any way we can not get tds deducted so that we dont lose on time when we get refund
Ramasubbu K
(Sr.GM - Finance & Company Secreta)
(685 Points)
Replied 31 October 2008
You can apply with the assessing officer for non deduction of tax certificate. On production of that certificate with the ban, you can avoid TDS on FD interest. Refer Section 197 of the Income TAx Act
CA Nitin Wadhwani
(Chartered Accountant)
(4469 Points)
Replied 31 October 2008
The Applicable is Form No.13
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