Certificate for deduction at lower rate
Certificate for deduction at lower rate.
76197. (1) 77[Subject to rules made under sub-section (2A), where, in the case of any income of any person other than a company],—
78[(a) income-tax is required to be deducted at the time of credit or, as the case may be, at the time of payment at the rates in force under the provisions of sections 192, 193, 194A 79[***] 80[***] 81[, [194D] and 195],
(b) being a non-resident, 82[income-tax] is required to be deducted at the time of payment at the rates in force under the provisions of section 194,
the 82a[Assessing] Officer is satisfied that the total income 83[***] of the recipient justifies the deduction of income-tax 84[***] at any lower rates or no deduction of income-tax 84[***], as the case may be, the 82a[Assessing] Officer shall, on ar application made by the assessee in this behalf, give to him such certificate as may be appropriate.
(2) Where any such certificate is given, the person responsible for paying the income shall, until such certificate is cancelled by the 82a[Assessing] Officer, deduct income-tax 85[* * *] at the rates specified in such certificate or deduct no tax, as the case may be.
85a[(2A) The Board may, having regard to the convenience of assessees and the interests of revenue, by notification in the Official Gazette, make rules specifying the cases in which, and the circumstances under which, an application may be made for the grant of a certificate under sub-section (1) and the conditions subject to which such certificate may be granted and providing for all other matters connected therewith.]
(3) 86[***]
76. See rules 28(1), (1 A), (1B), (1BB), (1D), (3) and 29 and Form Nos. 13, 13A, 13B, 13BB, 13D, 14A and 15.
77. Substituted for "Where, in the case of any income of any person other than a company" by the Finance Act, 1987, w.e.f. 1-6-1987.
78. Substituted by the Finance (No. 2) Act, 1967, w.e.f. 1-4-1967.
79. ", 194B" omitted by the Finance Act, 1986, w.e.f. 1-4-1987. Earlier, this was inserted by the Finance Act, 1972, w.e.f. 1-4-1972.
80. ", 194BB" omitted by the Finance Act, 1986, w.e.f. 1-4-1987. Earlier, this was inserted by the Finance Act, 1978, w.e.f. 1-4-1978.
81. Inserted by the Finance Act, 1973, w.e.f. 1-4-1973.
82. Substituted for "super-tax" by the Finance Act, 1965, w.e.f. 1-4-1965.
82a. Substituted for "Income-tax" by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988.
83. "or the total world income" omitted by the Finance Act, 1965, w.e.f. 1-4-1965.
84. "or super-tax" omitted, by the Finance Act, 1965, w.e.f. 1-4-1965.
85. "and super-tax" omitted, by the Finance Act, 1965, w.e.f. 1-4-1965.
85a. Inserted by the Finance Act, 1987, w.e.f. 1-6-1987.
86. Sub-section (3) omitted by the Finance Act, 1986, w.e.f. 1-4-1987. Prior to its omission, sub-section (3), as substituted by the Finance (No. 2) Act, 1967, w.e.f. 1-4-1968-, stood as under :
"(3) Where the principal officer of a company considers that, by reason of the provisions of section 80K, the whole or any portion of the dividend referred to in section 194 will be deductible in computing the total income of the recipient, he may, before paying the dividend to the shareholder or issuing any cheque or warrant in respect thereof, make an application to the Income-tax Officer to determine the appropriate proportion of the dividend to be deducted under the provisions of section 80K ; and on such determination by the Income-tax Officer no tax shall be deducted on such proportionate amount."
[AS AMENDED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987]