TDS non-deduction declarations allow eligible recipients to receive specified payments without withholding, subject to income-limit conditions and senior-citizen relaxation. Section 393(6) permits eligible recipients to obtain non-deduction of tax at source on specified payments by furnishing a valid declaration in Form No. ... Summary
TDS non-deduction declarations allow eligible recipients to receive specified payments without withholding, subject to income-limit conditions and senior-citizen relaxation.
Section 393(6) permits eligible recipients to obtain non-deduction of tax at source on specified payments by furnishing a valid declaration in Form No. 121. Resident individuals are covered for listed payments including accumulated employee balances, insurance commission, rent, income from units, specified interest, life-insurance-policy payments and dividends; certain other non-corporate and non-firm persons are covered for listed payments other than dividends. Generally, aggregate specified income must not exceed the maximum amount not chargeable to tax, but resident senior citizens are exempt from this restriction, subject to other conditions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 1 
Join Channel 
