Lower rate tds deduction

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yogesh singh rajput (Querist)
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22 February 2014 Dear Experts,

I Want to know that how and where show to lower rate TDS deduction in the quartrly TDS Return

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 February 2014 for lower/NIL TDS rate, you need to use the Flag Column:

Flag A: Lower / No deduction for certificate u/s. 197

B: No deduction for declaration u/s. 197A

C: Higher deduction where PAN is not available

T: No deduction for Transporters having PAN (sec. 194C(6) )

X: Lower TCS for certificate u/s. 206C(9)

Y: No deduction due to payment below threshold limit.

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yogesh singh rajput

yogesh singh rajput (Querist)
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22 February 2014 Thank You Very Much sir
One of our contractor has submited a cerficate of lower rate 0.50 % instead of 2 % then whats flag applied for this A or B

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 February 2014 you need to use Flag A

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