sec 195

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CA. VIKAS KUMAR SHARMA

CA. VIKAS KUMAR SHARMA (Querist)
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03 April 2009 Is there any information is required in tds deduction u/s 195, if yes how to furnish and in which forms ?

Taranjit Singh

Taranjit Singh (Expert)
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03 April 2009 For the purposes of this section, where any interest or other sum as aforesaid is credited to any account, whether called "Interest payable account" or "Suspense account" or by any other name, in the books of account of the person liable to pay such income, such crediting shall be deemed to be credit of such income to the account of the payee and the provisions of this section shall apply accordingly.

Taranjit Singh

Taranjit Singh (Expert)
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03 April 2009 Subject to rules 1754a made under sub-section (5), any person entitled to receive any interest or other sum on which income-tax has to be deducted under sub-section (1) may make an application in the prescribed form 1754a to the Assessing Officer for the grant of a certificate authorising him to receive such interest or other sum without deduction of tax under that sub-section, and where any such certificate 1754a is granted, every person responsible for paying such interest or other sum to the person to whom such certificate is granted shall, so long as the certificate is in force, make payment of such interest or other sum without deducting tax thereon under sub-section (1).

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