When you can get the commission / Other income after Tax Deduction at Source (TDS) at a lower rate or even without TDS also. For this, you have to apply to your Assessing Officer in the prescribed Form No. 13 u/s. 197 of the Income Tax Act, 1961 read with rule 28 and 37G stating that you may either be exempt from TDS or TDS should be at a rate lower than the prescribed rate. To justify your demand, you have to attach documents of last three years to make your point. The CBDT has delegated the power to the Assessing Officer either to exempt the payment from TDS or to subject the payment at lower rate of TDS.
The dividend from co-operative society is taxable in the hands of recipient. As per section 10 (34), only that dividends, on which companies are paying pay tax u/s. 115-0 (Dividend Distribution Tax) are tax free in the hands of shareholders.
The dividend from co-operative society is taxable in the hands of recipient. As per section 10 (34), only that dividends, on which companies are paying pay tax u/s. 115-0 (Dividend Distribution Tax) are tax free in the hands of shareholders.
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