If we take a Non deduction of Tax certificate at a projected amount of interest income Say 1 crore to be receved as interest if at the year end the amount of interest is more than that say 1.25 crores so can we instrcuct the party not to deduct tax on the entire amount or the TDS is to be deducted on the excess amount of Rs. 25 lacs.
Please advise with reference to Section/Rule/Case law if any.
IF Non deduction certificate is given by AO for prescribed amount, then, in my opinion, TDS has to be deducted on excess amount
I think so same. On excess amount TDS is to be deducted.
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