Latest Query & Reply

Our Non-Resident Client Is Selling His India Property Payment Will Receive In Indian Rupees.

If We Provide Lower Deduction Certificate Or Submit Form No 15ca To Purchaser Then What Will Happen?

Reply

As per sub section (3) of section 195 of income tax act, any person entitled to receive any interest or other sum on which income-tax has to be deducted under sub-section (1) of section 195 may make an application in the prescribed form to the Assessing Officer for the grant of a certificate authorizing him to receive such interest or other sum without deduction of tax, and where any such certificate is granted, every person responsible for paying such interest or other sum to the person to whom such certificate is granted shall, so long as the certificate is in force, make payment of such interest or other sum without deducting TDS.