No deduction of tax at source
This query is : Resolved
DEVENDER THAKUR
(Querist)
31 May 2012
A person has given an unsecured loan to us and we pay interest on it after deduting Tax. But the he refuse us to deduct the tax. In which form should he apply for non deduction of tax. Form 15G/H are not applicable as he is a taxpayer. Can he apply in Form no.13 Please guide me sir
CA PARAS BAFNA
(Expert)
31 May 2012
If the lender is having taxable income and want to get tax deducted at source at lower rate then only he should have to Apply in Form No 13.
Following link may help him-
taxworry.com/six-parameters-under-new-rule-new-form-13-for-lower-deduction-certificate-us-197-from-1st-april-2011/
Following link may help him-
taxworry.com/six-parameters-under-new-rule-new-form-13-for-lower-deduction-certificate-us-197-from-1st-april-2011/
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