Tax deduction exemption: individual declaration stops withholding on certain payments when estimated tax is nil. The amendment prevents withholding of tax under the provision for certain payments when an individual (not a company or firm) furnishes a duplicate, prescribed, and verified declaration that tax on his estimated total income for the relevant year will be nil; statutory text is adjusted to remove earlier references and to include the new sub clause in cross references.
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Provisions expressly mentioned in the judgment/order text.
Tax deduction exemption: individual declaration stops withholding on certain payments when estimated tax is nil.
The amendment prevents withholding of tax under the provision for certain payments when an individual (not a company or firm) furnishes a duplicate, prescribed, and verified declaration that tax on his estimated total income for the relevant year will be nil; statutory text is adjusted to remove earlier references and to include the new sub clause in cross references.
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