Declaration by specified persons claiming receipt of certain incomes without deduction of Tax at Source

DECLARATION BY SPECIFIED PERSONS
CLAIMING RECEIPT OF CERTAIN INCOMES WITHOUT DEDUCTION OF TAX AT SOURCE
[Sec. 197 A, Rule 29C]

The recipient of income (payee/tax deductee) may, at his option, furnish a declaration to the effect that “tax on his estimated total income of the previous year in which such income is to be included in computing his total income will be Nil”. Such declaration should be furnished in writing in duplicate duly in the prescribed form and verified in the prescribed manner to the Tax Deductor in respect of the following:

Declaration to be made to the tax deductor in respect of payment/ income under section	Person (Payee) who is entitled to make such declaration	Prescribed Form No. for declaration
Declaration u/s 197A(1) and (1A) Dividend u/s 194 and payment out of deposits under national saving scheme ref. in section 80CCA(2) (a)	An resident individual or person (not being company or firm)	15 G
Declaration u/s 197A(1C) I Interest on Securities u/s 193 I. Dividend u/s 194 II. Interest other than Interest on Securities u/s 194A III. Payments [Sec. 80CCA(2)(a)] u/s 194EE IV. Income in respect of units u/s 194K	Individual in India who is of the age of 65 years or more at anytime during the previous year and who is entitled to deduction u/s 88B	15 H

Note : The declarant has to furnish the PAN in declaration. If he fails to furnish the same the declaration is invalid.

Posted in: TDS Deductor Circular,TDS Rates