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Jul 10, 2021 · Section 197 of the Income Tax Act, 1961 allows the taxpayer the facility of NIL or Lower tax rate deduction of TDS (or TDS exemption). In order to apply for this you need to submit Form 13 to the assessing officer.
Jun 1, 2021 · Section 197 of the Companies Act, 2013 Overall Maximum Managerial Remuneration and Managerial Remuneration In Case of Absence or Inadequacy of Profits. (1) Maximum amount of managerial remuneration. Total managerial remuneration payable by a public company, to –.
A Section 197 certificate, granting reduced or zero Tax Deduction at Source (TDS), typically lapses within the fiscal year of its issuance. Validity extends from the date of issuance until March 31st, the conclusion of the Indian financial year.
An assessee must complete Form 13 to get a NIL or lower TDS certificate under section 197. Such a certificate is issued by the Income Tax Department if the assessee’s estimated tax liability justifies no deduction tax or deduction of tax at a lower rate.
Jun 4, 2024 · The Section 197 Certificate, often called the Lower Deduction Certificate (LDC), is a significant provision under the Income Tax Act. It enables taxpayers to benefit from a Nil or reduced Rate of Tax Deducted at Source (TDS) on their income.
May 28, 2024 · Learn about Section 197 of the Income Tax Act, which allows for certificates for deduction at a lower rate. Explore eligibility, application process, and validity criteria.
What Is Section 197? Section 197 of the Income Tax Act offers taxpayers the opportunity to reduce or eliminate their 197 tax deduction at source (TDS) obligations. This provision is particularly beneficial for those whose income is subject to TDS.
Mar 4, 2020 · Section 197 of Income Tax Act. The Income-tax laws permit certain taxpayers to get relief from TDS at a lower or nil rate under Section 197 of the Income Tax Act. Normally, TDS is deducted from salary and various other payments by Deductor and remitted with the Government.
Jul 2, 2024 · Section 197 of Income Tax Act grants taxpayers option of either zero-rate or reduced tax rate for TDS deduction or exemption. What Is Section 197?
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