How to Apply Nil TDS certificate


Welcome to imaster Blog +91 95000 83333 For Nil TDS certificate consultants in Chennai

How to Apply for a Nil TDS certificate? Under Section 197 of the income tax act, it is possible to apply for a certificate of lower TDS or nil TDS rate. Apply for a certificate of lower TDR. The TAN of the parties must be correctly mentioned, and the applicant should provide their correct TAN. There are no special instructions for applying for a certificate of lower TDS rate.

 

The finance professional should apply for the lower TDS certificate as soon as possible to avoid blocking funds for two or three years. A lower TDS certificate can be generated using any decimal percentage. As per the Income Tax Act, a Nil TDS certificate can be generated at any rate between zero and one-hundredth of the total amount. The lowest rate is zero percent. Once the sales proceeds are deposited into the buyer's NRO account, he can generate a Form 16 to be used for tax compliances.

 

The application process should be done in a timely manner, since there is no time limit specified in the Income Tax Act. If you file your application before the deadline, the IT department will review your application and make any necessary suggestions or requests. If your application is approved, the assessing officer will issue your certificate within 30 days. The earlier you apply for the lower TDS certificate, the sooner it will be processed by the Income Tax Department.

Contact imaster for Nil TDS certificate consultants in Chennai +91 95000 83333

 

 

 

 

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