Application of sec 197 & 197a
This query is : Resolved
Arul Kumar
(Querist)
27 January 2012
Dear Experts,
What is the criteria for application of Section 197 or 197A of the Income Tax Act 1961.
Thanks & Regards,
Arul Kumar
What is the criteria for application of Section 197 or 197A of the Income Tax Act 1961.
Thanks & Regards,
Arul Kumar
CA PARAS BAFNA
(Expert)
27 January 2012
Section 197: For Lower Rate Deduction.
Application for lower deduction can be made by the deductee or recipient of income, in case he can justify that his gross total income is not going to be taxable and tax deductible at source is going to be resulting in a Refund, in case it is being deducted at the prescribed rates. He may apply for a lower rate deduction for TDS under Sections : 192, 193, 197, 194A, 194C, 194D, 194G, 194H, 194I, 194J, 194K,
194LA and 195.
.
Section 197A prescribes for no deduction of tax and the criteria is his gross total income is not going to be taxable.
Section 197: For Lower Rate Deduction.
Application for lower deduction can be made by the deductee or recipient of income, in case he can justify that his gross total income is not going to be taxable and tax deductible at source is going to be resulting in a Refund, in case it is being deducted at the prescribed rates. He may apply for a lower rate deduction for TDS under Sections : 192, 193, 197, 194A, 194C, 194D, 194G, 194H, 194I, 194J, 194K,
194LA and 195.
.
Section 197A prescribes for no deduction of tax and the criteria is his gross total income is not going to be taxable.
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