Withholding Tax
This query is : Resolved
17 August 2007
Refer Sec.192 to 195 of the IT Act.
With holding of tax is called as TDS in general language.
Under the aforesaid sections, Some payments are mentioned for which you have to with hold a % of tax and remit to government.
In simple words, Deduct tax when you are making the payment and pay it to govt.
This concept is called withholding of tax.
With holding of tax is called as TDS in general language.
Under the aforesaid sections, Some payments are mentioned for which you have to with hold a % of tax and remit to government.
In simple words, Deduct tax when you are making the payment and pay it to govt.
This concept is called withholding of tax.
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