NEW DELHI, MAY 24, 2010:
IN a Public
Notice issued by the CIT (TDS), New Delhi, it has been mentioned that with
effect from April 1, 2010, only an assessee with a valid PAN card may apply to
the tax authorities for issue of certificate u/s 197, authorizing the payer to
deduct tax at a lower than specified rate or not deduct tax at all.
The
application for issue of certificate under section 197 / 206C has to be made to
the officers in CIT (TDS) charge. All certificates under section 197/206C shall
be issued in about 15-20 days, through the computer system of the Department.
Issue of manual certificates is not permitted.
As per CBDT Circular No.
774 dated March 17, 1999, certificate u/s 197 is valid for payments made after
the date of issue of certificate. In other words, a certificate cannot be issued
retrospectively. By default, the date of validity of certificate begins from the
date on which it is generated from the system.
For details, please see
the Notification section for Public
Notice dated March 22, 2010.
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