there is a scientific research trust...wants that on its any income no tds will be deducted.....
is there any specific provision for the same ????
there is a scientific research trust...wants that on its any income no tds will be deducted.....
is there any specific provision for the same ????
CA R K SINGH
(CA CS FINAL CMA INTER)
(372 Points)
Replied 02 August 2011
READ SECTION 197. THIS SEC. PROVIDES FOR AN APPLICATION TO AO FOR NO DEDUCTION OF TAX AT SOURCE OR LESS DEDUCTION. IN MY OPINION THE ASSESSE TRUST SHOULD MAKE AN APPLICATION TO AO UNDER THIS SECTION IN FORM NO.13
Ashok J
(CA Final)
(880 Points)
Replied 04 August 2011
If trust is exempt from tax u/s 12 , no tds on payments made to the trust
CAclubindia
