Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Association of persons or body of individuals or artificial juridical person formed for a particular event or purpose - Income Tax Bill, 2025 - Old Version
Certificate for lower tax deduction allows withholding at specified reduced rate until its validity upon assessing officer's satisfaction. A payee or buyer/licensee/lessee may apply to the Assessing Officer for a certificate authorising deduction or collection of tax at a lower rate; if ... Summary
Certificate for lower tax deduction allows withholding at specified reduced rate until its validity upon assessing officer's satisfaction.
A payee or buyer/licensee/lessee may apply to the Assessing Officer for a certificate authorising deduction or collection of tax at a lower rate; if satisfied, the Assessing Officer will issue a certificate specifying the reduced rate and its validity, and the payer or collector must apply that rate while it remains valid. For payments to non-residents (other than salary), the payer may seek determination of the taxable proportion and deduct tax only on that determined proportion. Deductors/collectors and employers must issue prescribed certificates to deductees/collectees confirming amounts and rates; the Assessing Officer may cancel certificates after hearing.
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