https://www.taxtmi.com/forum/issue?id=119941 When an LDC under Section 197 is issued generically to all deductors, the deductor must obtain a vendor declaration stating the attached LDC, sanctioned total limit, transactions covered, and remaining balance; perform regular reconciliations; validate certificate existence PAN-wise on TRACES; maintain an internal LDC tracking register recording limit and utilisation; and include contractual indemnity requiring vendor notice on limit exhaustion to avoid exposure to short deduction interest and expense disallowance. en-us Mon, 28 Apr 2025 17:35:59 +0530 Tue, 29 Apr 2025 16:47:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119941 When an LDC under Section 197 is issued generically to all deductors, the deductor must obtain a vendor declaration stating the attached LDC, sanctioned total limit, transactions covered, and remaining balance; perform regular reconciliations; validate certificate existence PAN-wise on TRACES; maintain an internal LDC tracking register recording limit and utilisation; and include contractual indemnity requiring vendor notice on limit exhaustion to avoid exposure to short deduction interest and expense disallowance. Discussion-Forum Income Tax Mon, 28 Apr 2025 17:35:59 +0530 https://www.taxtmi.com/forum/issue?id=119941