New Rules for Applying & Issue of Lower or Nil Deduction Certificate Simplified !


Income Tax Act provides a number of provisions -from section 192 to section 195-under which the payer of a sum on the ground of rent or interest or technical or professional fees or payment to a non-resident is responsible for deduction of tax at source and deposit to the government. Similarly, under section 206C of the I T Act ,there are certain items-like liquor,scraps,tendu leaves etc- on which the seller of the items need to collect tax at source from buyers  The Income Tax Act provides laws under which a deductee or even the deductor can apply before assessing officer (TDS) and request for lower or NIL rate of deduction certificate.

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