Section 197

Section 197 Certificate For TDS Deduction at Lower Rate

Income Tax - 1) What is Section 197? 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. Also, this section strikes a delicate balance between the […]...

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Remuneration of KMPs | Section 197 & 198 | Companies Act, 2013

Income Tax - Section: 197 of the  Companies Act, 2013 Remuneration to Key Managerial Personnel 1. Maximum ceiling for payment of Managerial Remuneration Section 197 of the Companies Act, 2013 prescribed the maximum ceiling for payment of managerial remuneration by a public company to its managing director whole-time director and manager which shall n...

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TDS Provisions related to Small Businesses & Covid 19 Relief

Income Tax - TAX DEDUCTION AT SOURCE (TDS) In order to ensure better tax compliance and ensuring the timely payment of tax to the Government treasury, a mechanism has been established by making it mandatory for certain persons responsible for making payment of some expenses to deduct tax from such payment and deposit it to the Government account. [&he...

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Lower or nil rate tax deduction certificate- Duty of deductor

Income Tax - Actions to be taken by the deductor on receipt of the certificate: Please validate the PAN of the deductee submitting the certificate. The Certificate should be valid for the PAN, Section and Rate which has been mentioned in the statement filed. Check that the certificate is valid for the relevant Financial Year....

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Issues surrounding section 197 lower withholding tax application

Income Tax - With the advent of time, all the processes ranging from our day to day life to corporate models (work from home as observed recently), everything is becoming digital. There were the days when the process of applying Nil/lower withholding certificate (or order) under section 197 of the Income-tax Act, 1961 (‘the Act’) was manual. The [...

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Section 197 certificates must be preceded by an order

Tata Teleservices (Maharashtra) Ltd. Vs DCIT (TDS) (Bombay High Court) - Tata Teleservices (Maharashtra) Ltd. Vs DCIT (Bombay High Court) Before issuance of certificates under section 197 of the Act, the same must be preceded by an order. That order must disclose reasons and is an order passed in exercise of quasi-judicial powers. Such an order can be assailed in revisio...

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HC Set Aside Order Rejecting Application for Lower or Nil TDS Deduction Certificate

Vijaykumar Satramdas Lakhani Vs CBDT and Ors. (Bombay High Court) - The issue under consideration is whether the AO's order for rejecting the application for issuance of a certificate for lower deduction or nil deduction u/s 197 is justified in law?...

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Recent Posts in "Section 197"

Section 197 certificates must be preceded by an order

Tata Teleservices (Maharashtra) Ltd. Vs DCIT (TDS) (Bombay High Court)

Tata Teleservices (Maharashtra) Ltd. Vs DCIT (Bombay High Court) Before issuance of certificates under section 197 of the Act, the same must be preceded by an order. That order must disclose reasons and is an order passed in exercise of quasi-judicial powers. Such an order can be assailed in revision under section 264 of the […]...

Read More

Section 197 Certificate For TDS Deduction at Lower Rate

1) What is Section 197? 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. Also, this section strikes a delicate balance between the […]...

Read More
Posted Under: Income Tax |

HC Set Aside Order Rejecting Application for Lower or Nil TDS Deduction Certificate

Vijaykumar Satramdas Lakhani Vs CBDT and Ors. (Bombay High Court)

The issue under consideration is whether the AO's order for rejecting the application for issuance of a certificate for lower deduction or nil deduction u/s 197 is justified in law?...

Read More

Remuneration of KMPs | Section 197 & 198 | Companies Act, 2013

Section: 197 of the  Companies Act, 2013 Remuneration to Key Managerial Personnel 1. Maximum ceiling for payment of Managerial Remuneration Section 197 of the Companies Act, 2013 prescribed the maximum ceiling for payment of managerial remuneration by a public company to its managing director whole-time director and manager which shall n...

Read More
Posted Under: Income Tax |

TDS Provisions related to Small Businesses & Covid 19 Relief

TAX DEDUCTION AT SOURCE (TDS) In order to ensure better tax compliance and ensuring the timely payment of tax to the Government treasury, a mechanism has been established by making it mandatory for certain persons responsible for making payment of some expenses to deduct tax from such payment and deposit it to the Government account. [&he...

Read More
Posted Under: Income Tax |

Lower or nil rate tax deduction certificate- Duty of deductor

Actions to be taken by the deductor on receipt of the certificate: Please validate the PAN of the deductee submitting the certificate. The Certificate should be valid for the PAN, Section and Rate which has been mentioned in the statement filed. Check that the certificate is valid for the relevant Financial Year....

Read More
Posted Under: Income Tax |

Issues surrounding section 197 lower withholding tax application

With the advent of time, all the processes ranging from our day to day life to corporate models (work from home as observed recently), everything is becoming digital. There were the days when the process of applying Nil/lower withholding certificate (or order) under section 197 of the Income-tax Act, 1961 (‘the Act’) was manual. The [...

Read More
Posted Under: Income Tax |

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