Form 13

TDS 689 views 3 replies

Dear All,

please anybody can answer my question:

1) can company (profit making) apply for a certificate for lower deduction?

2) if yes, how can i apply...pls explain the proceedure.

Thanks & Regards

Davison Mathew 

 

Replies (3)

i mean lower deduction of TDS.

Thanks & Regards

Davison Mathew

 

If the co is profit making, there is no need for lower deduction of TDS and therefore there is no need to file Form 13. Even if u make an application, the same will NOT be allowed and certificate for lower deduction will NOT be allowed unless the ITO is satisfied that there is going to be no tax liability.

Dear Sandeep,

summary of tax paid is as follows:

1)      TDS receivable FY – 2009-10           :            Rs-76.11Lac

provision for the FY 2009-10                    :               Rs-67.98 Lac

 that means we have already paid excess tds

2)      TDS for the FY – 2008-09:

 TDS receivable                                 :               Rs-85.15Lac        

Actual Income Tax as per IT return     :               Rs-47.70 Lac

Refund applied                                  :               Rs-37.46 Lac

it will take too much time to get the excess paid back. and no interest or any  other retun. So i would like not to pay any more. that is why i am asking this query.

pls reply as soon as possible.

Thanks & Regards

Davison Mathew

 


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