Tds 194h

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Querist : Anonymous

Querist : Anonymous (Querist)

12 December 2014 if an individual is getting commision income from a private limited company of Rs. 150000/-. since an individual is falling below slab rate where no tax is required to pay by him. so what is the procedure so that no TDS is deducted by the company?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 December 2014 at rs 1,50,000 tds needs to be deducted u/s 194H

Querist : Anonymous

Querist : Anonymous (Querist)

12 December 2014 can i submit form 15G?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 December 2014 if your income for the fy do not exceeds the basic exemption slab for non senior ind then u can else not

Querist : Anonymous

Querist : Anonymous (Querist)

12 December 2014 sir, but is form 15G allowable for commission income? and to whom this form should filed?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 December 2014 yes if the above mentioned conditions are fulfilled and to the deductor

Querist : Anonymous

Querist : Anonymous (Querist)

12 December 2014 whats the time limit to file this form?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 December 2014 usually before they pay u , u submit them

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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12 December 2014 Form 15G can't be given for COMMISSION income.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 December 2014 so for sir sec 193,193a AND sec 194 only can be utilised?

and sir in this case whether sec 197(IA) can be invoked?

Querist : Anonymous

Querist : Anonymous (Querist)

12 December 2014 sir, what if my income is 300000/- and i am eligible for deduction u/s 80C upto 1lac. is i am eligible to file form 15G?

Amol S Joglekar

Amol S Joglekar (Expert)
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12 December 2014 You can apply for NO deduction of TAX or at a lower deduction of TAX to the concerned Assessing Officer. The Assessing Officer, if deems fit, can issue the letter of NO tds or at a lower rate TDS to the concerned payer