Tax deduction certificate rules govern branch applicants seeking receipt of specified income without withholding tax. A payee entitled to receive specified interest or other sums may apply in Form No. 126 for a certificate under section 395(1) authorising receipt without deduction of tax. The rule applies to a non-domestic banking company or insurer operating through an Indian branch, and to other persons carrying on business or profession in India through a branch, subject to conditions relating to regular income-tax assessment, timely return filing, absence of tax default, continuity of business, and a specified fixed-asset threshold. The certificate is valid for the stated tax year unless earlier cancelled, and a fresh application may be made after expiry or within three months before expiry.
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.
Tax deduction certificate rules govern branch applicants seeking receipt of specified income without withholding tax.
A payee entitled to receive specified interest or other sums may apply in Form No. 126 for a certificate under section 395(1) authorising receipt without deduction of tax. The rule applies to a non-domestic banking company or insurer operating through an Indian branch, and to other persons carrying on business or profession in India through a branch, subject to conditions relating to regular income-tax assessment, timely return filing, absence of tax default, continuity of business, and a specified fixed-asset threshold. The certificate is valid for the stated tax year unless earlier cancelled, and a fresh application may be made after expiry or within three months before expiry.
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