SUBMISSION OF FORM 15G/15H FOR LOW/NIL TDS

[manoj gupta]

CAN A CHARITABLE TRUST AVAILING EXEMPTION U/S 12A CAN FILE FORM 15G/15H TO BANK FOR NON DEDUCTION/NIL DEDUCTION OF TDS ON INTEREST PAID TO IT BY BANK ON FDR.

[ravi sankar]

1.Charitable Trust cannot file Form 15G/Form 15H to bank. 2.Trust has to make a application in form no.13 to Assessing officer and get an order for NIL tax/concessional tax.This should be furnished to bank for non deduction/lesser deduction as the case may be. 3.Hope I have clarifed your question. ravisankar

We are registered under society act 1860 and have 12A and 80G certificater. We are now doing environment awareness streetplays organized by another ngo. How much TDS they should deduct, if the payment is above Rs 40,000/- ? 

Pls respond

 

AI Summary

TDS exemption procedures: charitable trusts must obtain an AO certificate for nil or reduced withholding before banks stop deduction.
A charitable trust cannot use Form 15G or Form 15H to obtain non-deduction of TDS on bank interest; it must apply to the assessing officer in the prescribed format (Form No.13) for an order permitting nil or concessional deduction, and furnish that AO order to the bank to secure non-deduction or reduced deduction.