Declaration for non-deduction of tax at source applies to specified payments, subject to income limits and senior-citizen relaxation. Section 393(6) permits eligible recipients to furnish a prescribed declaration for non-deduction of tax at source on specified payments. Resident ... Summary
Declaration for non-deduction of tax at source applies to specified payments, subject to income limits and senior-citizen relaxation.
Section 393(6) permits eligible recipients to furnish a prescribed declaration for non-deduction of tax at source on specified payments. Resident individuals may use the mechanism for listed payments including accumulated employee balances, insurance commission, rent, unit income, specified interest, life-insurance-policy payments and dividends; other eligible non-company and non-firm persons may use it for the listed payments other than dividends. The aggregate specified income must not exceed the maximum amount not chargeable to tax, except for resident individuals aged sixty years or more, subject to other conditions.
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