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TDS Exemption

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(Querist)
28 May 2009 I am working in a public limited company.

This is company is under the project stage & Such revenue as such is there.

We are lending our temporary surplus to our sister concern.

Only the interest which we receive is taxable income which will off set against my regular expenses (Business)

Hence whatever be the TDS which our sister company is deducting will have to get refund from the income tax dept.

To avoid the same, we are planning to get exemption under TDS provision

Whether Form 13 can be used for the company TDS exemption ?

any other procedure to be followed?
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
28 May 2009 You can apply in Form 13 for a certificate for non deduction/deduction at a lower rate of TDS.
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jegannath G

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jegannath G (Querist)
29 May 2009 thanks for the reply
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