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Rule 37ba(2) Relating to tds

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zanis 0071

89 Points Posted on 15 October 2021

can anyone explain this..relating to tds I don't understand...?

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Quick Summary

This discussion clarifies Income Tax Rule 37BA(2), which concerns Tax Deducted at Source (TDS). It explains that if income is assessable to someone other than the original deductee, the TDS credit can be transferred to that other person. This is possible if the deductee provides a declaration to the deductor, who then reports the TDS under the other person's name. The consensus is that you can indeed claim Head Office TDS if they provide the necessary certification.

CA. Sourav Sarkar

Chartered Accountant

16188 Points Posted on 15 October 2021

(2) [(i) Where under any provisions of the Act, the whole or any part of the income on which tax has been deducted at source is assessable in the hands of a person other than the deductee, credit for the whole or any part of the tax deducted at source, as the case may be, shall be given to the other person and not to the deductee :

Provided that the deductee files a declaration with the deductor and the deductor reports the tax deduction in the name of the other person in the information relating to deduction of tax referred to in sub-rule (1).]