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
Menu
Lic Agent
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. )
Recent Topic
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
- Form 103 id delayed for submission for more than 1
- Composition scheme
- Input tax credit under igst under insurance compan
- ITR Form to be used
Related Topics
CAclubindia
