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Sapphire service center in kolkata5/27/2023 Wherever there exists a Double Taxation Avoidance Agreement (DTAA) between the Government of India and government of other countries (country of residence of the respective NRI), the rate of tax deducted at source will be applied as per the DTAA. Income tax will be deducted at source under Section 195 of the Income Tax Act, 1961, at the rates in force. In case PAN is not mentioned, the rate of TDS would be 20% as per section 206AA(1) of the Income-Tax Act, 1961. Further, 139A(5B) requires the person deducting such tax to indicate the PAN on the TDS certificate. Section 139A(5A) of the Income-tax Act, 1961 requires every person receiving any sum or income from which tax has been deducted to intimate his PAN to the person esponsible for deducting such tax. Senior Citizens (60 years and above) may submit a declaration in Form No. In such cases, PAN (Permanent Account Number) must be quoted in Form 15G, else the form is invalid. ![]() ![]() 15G so that income tax is not deducted at source. If the depositor is not liable to pay income tax and the interest to be paid/credited in a financial year does not exceed the maximum amount which is not chargeable to income tax, the depositor may submit a declaration in Form No. ![]() Income tax will be deducted at source under Section 194A of the Income Tax Act, 1961, at the rates in force. No tax deduction at source on interest paid/credited upto Rs.5,000/- in a financial year.
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