Tax withholding obligation narrowed to payments made to residents, refocusing payer duties and the scope of withholding. The amendment replaces the opening words of section 194-I so that the payer's withholding obligation applies to payments "to a resident" instead of "to ... Summary
Tax withholding obligation narrowed to payments made to residents, refocusing payer duties and the scope of withholding.
The amendment replaces the opening words of section 194-I so that the payer's withholding obligation applies to payments "to a resident" instead of "to any person," thereby delimiting the class of payees subject to deduction at source and changing the statutory trigger; the substitution takes effect from the 1st day of June, 2003.
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