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of <h1>Section 197A allows resident individuals to avoid TDS by declaring nil tax liability through prescribed forms</h1> Section 197A of the Income Tax Act, 1961 provides exemptions from tax deduction at source in specific circumstances. Resident individuals can avoid TDS on certain income types by submitting a prescribed declaration stating their estimated total income tax liability will be nil. Special provisions apply to senior citizens aged sixty years or above. The section excludes companies and firms from certain exemptions and sets income thresholds beyond which exemptions don't apply. Additional exemptions exist for offshore banking units, pension system trusts, and government-notified entities. Declaration copies must be submitted to tax commissioners within specified timeframes.
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