Sunil Liladhar Kotak
(Manager (F & A))
(2025 Points)
Replied 01 October 2009
U need to deduct the TDS unless the trust produces the exemption certificate.
for more information on this pls visit the below mentioned link
https://sawaal.ibibo.com/personal-finance-and-tax/what-tds-on-charitable-trust-476408.html
just check out the second reply from Mr. Om Prakash,
Thanks,
Sunil
P. Raja
(Manager Finance & Accounts)
(198 Points)
Replied 01 October 2009
Exemption Certificate under Sec 197A or u/s 10 ( 23C ) is enough?
Regards
P. Raja
Sunil Liladhar Kotak
(Manager (F & A))
(2025 Points)
Replied 01 October 2009
I think u need to provide either the form 197A or the Form No. 15 G. but the from no 15 G would be a better option as the it is just a simple declaration to be signed by the authorised signatory of the trust.
banks people are accepting this form no.15G for the Purpose of non-deduction of the TDS on interest.
thanks,
Sunil
Rajeev
(www.rkmco.com)
(985 Points)
Replied 01 October 2009
Raja ,
Refer Board circular no 4 of the year 2002 ( 16th july ) . Clause ix of the circular will clarify your problems . Unless it falls under subclause iiiab /iiiac of 10(23C) , Tds to be deducted .
Cos it will prove that its not a blanket exemption , and return is required to be filed u/s 139(1).
The income has to be unconditionally exempt for TDS not be to deducted at yr end , read the circular , i am sure it will be helpful
CAclubindia
