Exemption from tax deduction at source: resident individuals may avoid TDS by submitting prescribed low income declaration. A new provision exempts resident individuals from withholding under specified deduction provisions if they furnish a prescribed, verified written declaration that their estimated total income for the previous year will be below the minimum taxable threshold; the payer must send one copy of that declaration to the Commissioner by the seventh day of the month following receipt.
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.
Exemption from tax deduction at source: resident individuals may avoid TDS by submitting prescribed low income declaration.
A new provision exempts resident individuals from withholding under specified deduction provisions if they furnish a prescribed, verified written declaration that their estimated total income for the previous year will be below the minimum taxable threshold; the payer must send one copy of that declaration to the Commissioner by the seventh day of the month following receipt.
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