Undue TDS

Dear All,

I have a Private Limited Company. My total deductions on TDS is in the tune of 2.4 Lakhs per annum wherein my net income for the past few years have not exceeded 3 Lakhs. I need to understand how can we get the letter from IT for lower deduction of TDS?

Regards

Abhishek

Replies (3)

Dear Abhishek!

You need to apply to your assessing Officer for lower/Nil deduction of TDS in FORM 13 alongwith details of last three  years account details and return filed proofs.

In case, the deduction at the current rate for your receipts would result in excess refund, the AO would issue the lower/nil deduction certificate as the case may be.

All the best!!

 

Dear Ramkrisha,

Thanks for your reply. I still have a doubt. Would it be possible for me to get a letter from AO for the next year ie FY 2009-10 while showing my returns for FY 2005-06, FY 2006-07 & FY 2007-08 as the returns for current FY 2008-09 would be filed only by May/June 09.

Regards

Abhishek

Yes you can.

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