https://www.taxtmi.com/caselaws?id=801158 Valid Form 15G/15H declarations received from depositors under section 197A(1A), read with section 194A and Rule 29C, remove the payer's obligation to deduct tax at source on interest payments. Section 40(a)(ia) disallowance applies only where tax was deductible but was not deducted, or deducted but not paid. Failure to furnish valid declarations to the prescribed authority attracts the separate penalty framework under section 272A(2)(f); it does not convert the payer into a tax-deduction defaulter or support interest-expenditure disallowance. en-us Tue, 22 Sep 2026 00:00:00 +0530 Fri, 16 Oct 2026 05:20:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801158 Valid Form 15G/15H declarations received from depositors under section 197A(1A), read with section 194A and Rule 29C, remove the payer's obligation to deduct tax at source on interest payments. Section 40(a)(ia) disallowance applies only where tax was deductible but was not deducted, or deducted but not paid. Failure to furnish valid declarations to the prescribed authority attracts the separate penalty framework under section 272A(2)(f); it does not convert the payer into a tax-deduction defaulter or support interest-expenditure disallowance. Case-Laws Income Tax Tue, 22 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801158