what is withholding tax & who is liable for this tax?
2 Replies
VIVEK KEDIA
(Salaried)
(77 Points)
Replied 10 March 2011
It is tax deducted at source . The Co which deduct is liable to pay the tax to Govt.
Ashish Ojha
(Chartered Accountant)
(469 Points)
Replied 10 March 2011
Yes, it is just another name of TDS. Term is used mainly which i have heard mostly in payments to Non residents. Just to clarify to them it is sometimes called as withholding tax
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