Certificate u/s. 197 form no 13
This query is : Open
Rabin Kharel (Birahi)
(Querist)
03 August 2013
What are the procedures (Step - by - Step) for applying certificate u/s.197 for non deduction of TDS, whose income is exempted u/s. 10(26)? Is there any request from deductor (Payee of amount)?
Rabin Kharel (Birahi)
(Querist)
04 August 2013
Dear experts please help !!
02 September 2013
If you have not taken any step for TDS then you cannot get yourself free from getting TDS deducted. So the weapon with you is to take the shelter of Section 197.
Make an application to the concerned officer and file the necessary documents and get the order passed for no deduction or lower deduction of TDS.
You have not stated the location of your institution to give you the correct jurisdiction of the AO
Make an application to the concerned officer and file the necessary documents and get the order passed for no deduction or lower deduction of TDS.
You have not stated the location of your institution to give you the correct jurisdiction of the AO
CA PARTH SHAH
(Expert)
01 October 2014
1)PREPARE FORM 13
DOCUMENTS NEEDED ARE AS FOLLOWS
1) LAST THREE YEARS RETURNS, AUDIT REPORT(IF APPLICABLE)
2) PROVISIONAL PROFT LOSS ACOUNT FOR THE YEAR FOR WHICH LLOWER DEDUCTION CERTIFICATE IS TO BE OBTAINED, PROJECTED PROFIT LOSS ACCOUNT FOR SUBSEQUENT YEAR
3)PROVISIONAL AND PROJECTED STATEMENT OF INCOME. STATEMENT SHOULD REFLECT CLEARLY THAT IF THE TDS IS DEDUCTED AT NORMAL RATE THEN IT WILL RESULT INTO SUBSTANTIAL REFUND.
4) LIST OF PARTIES FOR WHOM YOU WANT TO OBTAINED LOWER/NIL CERTIFICATE U/S 197 ALONG WITH THE PAN AND TAN NO OF THOSE PARTIES AND THE EXPECTED INCOME/ AMOUNT TO BE EARNED/ RECEIVED FROM EACH OF THOSE PARTIES
3)OTHER INFORMATIONS AS REQUIRED IN FORM 13
AFTER PREPARING THE WHOLE SET, THE COPY OF THE SAME IS TO BE SUBMITTED TO THE JUSRISDICTIONAL TDS OFFICER.
THE WHOLE PROCESS SHALL TAKE AROUND 30 DAYS
THE OFFICER AFTER VERIFYING THE SAME WILL
DOCUMENTS NEEDED ARE AS FOLLOWS
1) LAST THREE YEARS RETURNS, AUDIT REPORT(IF APPLICABLE)
2) PROVISIONAL PROFT LOSS ACOUNT FOR THE YEAR FOR WHICH LLOWER DEDUCTION CERTIFICATE IS TO BE OBTAINED, PROJECTED PROFIT LOSS ACCOUNT FOR SUBSEQUENT YEAR
3)PROVISIONAL AND PROJECTED STATEMENT OF INCOME. STATEMENT SHOULD REFLECT CLEARLY THAT IF THE TDS IS DEDUCTED AT NORMAL RATE THEN IT WILL RESULT INTO SUBSTANTIAL REFUND.
4) LIST OF PARTIES FOR WHOM YOU WANT TO OBTAINED LOWER/NIL CERTIFICATE U/S 197 ALONG WITH THE PAN AND TAN NO OF THOSE PARTIES AND THE EXPECTED INCOME/ AMOUNT TO BE EARNED/ RECEIVED FROM EACH OF THOSE PARTIES
3)OTHER INFORMATIONS AS REQUIRED IN FORM 13
AFTER PREPARING THE WHOLE SET, THE COPY OF THE SAME IS TO BE SUBMITTED TO THE JUSRISDICTIONAL TDS OFFICER.
THE WHOLE PROCESS SHALL TAKE AROUND 30 DAYS
THE OFFICER AFTER VERIFYING THE SAME WILL
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