Form 13 – Non-Deduction / Lower Deduction of TDS
Considering tendency of taxpayers to adopt tax evasion measures, Income tax provisions provide for deduction of tax at source / collection of tax source. Tax rates for such deduction are provided under Section 192, Section 194 and 195(non-residents). Person responsible for making the payment is entrusted with the responsibility of deducting the tax at specified rates either at the time of credit in the books or payment to the recipient, whichever is earlier and only pay the balance amount to the recipient.