TMI BlogCertificate for deduction at lower rates or no deduction of tax from income other than dividendsX X X X Extracts X X X X X X X X Extracts X X X X ..... (2) The existing and estimated liability referred to in sub-rule (1) shall be determined by the Assessing Officer after taking into consideration the following:- (i) tax payable on estimated income of the previous year relevant to the assessment year; (ii) tax payable on the assessed or returned 3 [ or estimated income, as the case may be, of last four ] previous years; (iii) existing liability under the Income-tax Act,1961 and Wealth-tax Act,1957; (iv) advance tax payment 4 [ tax deducted at source and tax collected at source ] for the assessment year relevant to the previous year till the date of making application under sub-rule (1) of rule 28; 5 [*****] (3) The certificate shall be valid for s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ms) or the Director General of Income-tax (Systems) shall also be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to the issuance of said certificate. ] ] ************ Notes: 1. Substituted vide notification no. 16/2011 dated 29-3-2011 , before it was read as, Certificate of no deduction of tax or deduction at lower rates from income other than dividends. 28AA. (1) The Assessing Officer, on an application made by a person under sub-rule (1) of rule 28, may issue a certificate in accordance with the provisions of sub-section (1) of section 197 for deduction of tax at source at the rate or rates calculated in the manner specified below :- ( i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 4. Inserted vide Notification No. 74/2018 dated 25-10-2018 5. Omitted vide Notification No. 74/2018 dated 25-10-2018 before it was read as v) tax deducted at source for the assessment year relevant to the previous year till the date of making application under sub-rule (1) of rule 28; and (vi) tax collected at source for the assessment year relevant to the previous year till the date of making application under sub-rule (1) of rule 28. 6. Substituted vide Notification No. 74/2018 dated 25-10-2018 before it was read as 2 [(4) The certificate for no deduction of tax shall be valid only with regard to the person responsible for deducting the tax and named therein. (5) The certificate referred to in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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