Declarations for non-deduction of tax at source permit specified payments without withholding, subject to recipient eligibility and income thresholds. Section 393(6) permits eligible recipients to furnish a valid declaration for non-deduction of tax at source on specified payments. Resident individuals ... Summary
Declarations for non-deduction of tax at source permit specified payments without withholding, subject to recipient eligibility and income thresholds.
Section 393(6) permits eligible recipients to furnish a valid declaration for non-deduction of tax at source on specified payments. Resident individuals may use the mechanism for listed employee balances, insurance commission, rent, unit income, specified interest, life-insurance-policy payments and dividends; certain other eligible non-corporate, non-firm persons may use it for the listed payments other than dividends. Except for resident individuals aged sixty years or above, the aggregate specified income must not exceed the maximum amount not chargeable to tax.
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