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Obtaining Lower or Nil Tax Deduction Certificate (Medium Business)

Obtaining Lower or Nil Tax Deduction Certificate (Medium Business)

Description

Details

Suitable For
A Business Entity might face a situation where the tax deducted by the deductor on income is much higher than the net profit margin of the entity which affects the overall profitability of the entity. In such cases, the business entity can make an application for lower TDS certificate which will entail the deductor to deduct TDS at lower rate for payments made to deductor.
Business Entities having turnover from Rs. 5 crores to Rs. 15 crores.
Not Suitable For
Sole proprietary concern

Scope of Work

Scope of Work

1. Uploading a copy of the FORM 13 by the professional shall constitute completion of service. However the professional shall mandatorily courier the original FORM 13 to the customer.

2. Receipt of FORM 13 shall include rejection by the respective assessing officer as well.

3. Estimated time for completion of service may vary subject to logistics, request for changes from the client and scrutinising of documents in preparing the draft.

4. Working days excludes Saturdays, Sundays and Public Holidays.

5. Execution of service shall be carried out only on TIMI platform.

Estimated Time

Estimated Time

30-34 working days

Pricing

Pricing

INCLUDES	EXCLUDES
Service Tax & Cess	Courier charges
Professional charges
All Stationery and Printing expenses

Did You Know

1. There are standard rates for TDS that are prescribed under the Income Tax Act, 1961.
2. In certain circumstances, the Assessing Officer might allow deduction of tax at lower rate than the prescribed rate on an application made by the business entity.
3. Where such a certificate is issued by the Assessing Officer, the person responsible for paying the income to the Business entity shall deduct tax as per the lower rate specified in the certificate.
4. The Assessing Officer may cancel such a certificate anytime.