Deduction of tax on interest: obligation on non-individual payers with specified exemptions and affidavit relief. Section 194A requires any person other than an individual or HUF who pays interest other than interest on securities to deduct tax at source at the time of credit or payment, unless the payee (not being a company or registered firm) furnishes an affidavit or prescribed written statement declaring estimated income below the taxable minimum; that statement must be verified, signed before and attested by a Gazetted Officer. Specified small payments, pre-existing payments, and payments to certain banking, financial, insurance and notified institutions are exempted. Consequential amendments update cross-references, certificate obligations and add an annual return requirement under section 206A.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction of tax on interest: obligation on non-individual payers with specified exemptions and affidavit relief.
Section 194A requires any person other than an individual or HUF who pays interest other than interest on securities to deduct tax at source at the time of credit or payment, unless the payee (not being a company or registered firm) furnishes an affidavit or prescribed written statement declaring estimated income below the taxable minimum; that statement must be verified, signed before and attested by a Gazetted Officer. Specified small payments, pre-existing payments, and payments to certain banking, financial, insurance and notified institutions are exempted. Consequential amendments update cross-references, certificate obligations and add an annual return requirement under section 206A.
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