tds on bank commision

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2013 DEAR SIR ,

I WANT TO ASK THAT WHETHER THE NEW NOTIFICATION OF CBDT ABOUT NO DEDUCTION OF TDS ON CERTAIN BANK INCOMES, IS APPLICABLE TO MY FRIEND , WHO GET THE COMMISSION FROM THE BANK ON PIGMY COLLECTION ,

AND IF IT IS APPLICABLE TO HIM THAN IS IT ENOUGH THAT HE IS SUBMIT THE FORM 15 G TO BANK ?

CA Parul Saxena

CA Parul Saxena (Expert)
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12 March 2013 The notification is for Bank income not for the individual income...your friend's commission is subject to TDS

Querist : Anonymous

Querist : Anonymous (Querist)

13 March 2013 Thanks sir , but please tell me that his income is not more than basic exemption limit
than can he file 15 g form for no deduction of tds and if yes than please tell the procedure of filling 15 g , whether it is required to get the certificate from AC?

please help