Lic Agent

TDS 1562 views 4 replies

Hi,

If Lic agent is getting gross receipt of 200000/- & taxable income not exceed the limit of Income Tax Slab. can he submit the form 15G to Lic as he do not have any other income. Or any other solution for not to deduct his TDS?

Thanks.

Shital

 

 

Replies (4)

Dear Shital,

Provision to File Form 15 G is NOT AVAILABLE for Payments made u/s 194H,  i:e in case of Income from LIC Comission..Therefore TDS WILL BE DEDUCTED..

HI,

Thanks for your reply. But is any other option for not to deduct TDS?

 

 

 

Dear Shital,

U CAN GO FOR FILING OF FORM NO. 13 u/s 197 read with Rule 28 & 28 AA FOR DEDUCTION OF TAX AT LOWER RATE OR FOR NO DEDUCTION AT ALL...

u apply lower deduction certifciate under from  no. 13 u/s 197 , issuing of assessing & income tax office( No deduction or .25% , .50% rate etc. )


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