What is a Withholding tax? In a interview in a MNC, they ask me what is Withholding Tax. Plz clarify the details about this.
4 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14861 Points)
Replied 14 March 2021
As per Income Tax act Employer deduct TDS of employee while making payment through out the financial year that is called Withholding Tax
We in India use word TDS(Tax deduct at source ) , however in some countries they use word " Withholding Tax "
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 14 March 2021
Withholding tax is a tax deducted at source, especially one levied by some countries on interest or dividends paid to a person resident outside that country.
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