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of <h1>Assessing Officer May Issue Certificate for Lower Tax Collection Rates Under Rule 37H Based on Tax Liabilities</h1> Under Rule 37H of the Income-tax Rules, 1962, an Assessing Officer can issue a certificate for collecting tax at lower rates from a buyer if the person's existing and estimated tax liabilities justify it. This determination considers factors such as tax payable on estimated income, assessed income from previous years, existing liabilities, and advance tax payments. The certificate is valid for the specified assessment year unless canceled earlier and is issued directly to the tax collector with a notification to the applicant. Procedures for issuing these certificates are established by the Principal Director General of Income-tax (Systems).
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