Taxpayers seeking relief from TDS under Section 197 can make an application to the TDS Assessing Officer if circumstances warrant non-deduction or lower deduction based on their estimated final tax liability. Here is the procedure for the same:
It is important to note that Section 197 certificates are only valid for the specified financial year. They cannot be used for another financial year. The certificate remains effective from the date of issue throughout the financial year unless the Assessing Officer cancels it before its expiry.
Moreover, there is no specific deadline for Section 197 applications. However, it is advisable to apply to the commencement of the financial year for regular income. In the case of other irregular forms of income, taxpayers can apply as and when they receive the income.