banner_ad

Non deduction of tds u/s 197a

TDS 720 views 6 replies

Section 197A states about non deduction of TDS in certain cases. However, may I know abut the prescribed format of declaration to be furnished? 

There is an educational institution which has deposits with the bank. The Institution states that it is exempted its income under section 10(23BBA). The institution is requesting the Bank not to deduct the TDS on its interest income. However, unless we comply to the requirements of Section 197A, the bank cannot be wise in the action of non deduction of TDS.

If anyone can help in this matter.

Thank you

Replies (6)

Form 15G & 15H can be downloaded from IT website. https://www.incometaxindia.gov.in/Pages/downloads/most-used-forms.aspx

I think it is not applicable only for companies & firms: https://www.charteredclub.com/tds-on-fixed-deposits/

Yaa but can a Trust file form no 15G?

If such trust is a company or firm, then not possible otherwise it is possible.

15G forms are for individual  Housing societies as well as Association of Apartments.

Not  sure about trust.  Most probably it may be applicable.  

Educational institution can be assessed either as aop or boi. Therefore 15g form can be filled for non deduction of tax. Bcoz 15g form is applicable for individual or a person(not being a company or firm).


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details