Section 197!

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CA Ravi Kumar Murugesh (Querist)
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01 August 2008 as per rule 28 of the income tax act, on apllying the Form13 they will issue a certificate for not effecting TDS or at lower rate i.e., at the average of the average rates of tax paid by the assessee in the last three years;

My question is: our company is started only 2 years back and sustaining losses and for this year also loss is expected.
Is there any mandatory requirement of atleast three years of existance of company is required to apply for Form13?

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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01 August 2008 If the company is only two year old, you can give the data for those years and still apply.

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