23 January 2014
As per Sec 197A of Income Tax Act, no deduction of tax shall be made under Sec 193 (Interest on securities) or Section 194A (interest other than interest on securities) if Form 15G is furnished by deductee(other than Company or firm)to deductor declaring that tax on his estimated total income of the previous year in which such income is to be included in computing his total income will be NIL.
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