Deduction of tax at source: modes of deemed payment, withholding adjustments, and grossing-up where payer bears tax. Deduction of tax at source deems payment made when effected in cash, cheque, credit to any account or other prescribed mode; for payments in kind the deductor must ensure tax is paid before payment. The deductor may adjust deductions on employment income or interest to correct prior shortfalls or excesses, must consider particulars furnished by the deductee about other employment payments and tax and relief for arrears/advances, and must gross up payments where the deductor is required to bear the tax so that post-deduction net equals the agreed amount.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction of tax at source: modes of deemed payment, withholding adjustments, and grossing-up where payer bears tax.
Deduction of tax at source deems payment made when effected in cash, cheque, credit to any account or other prescribed mode; for payments in kind the deductor must ensure tax is paid before payment. The deductor may adjust deductions on employment income or interest to correct prior shortfalls or excesses, must consider particulars furnished by the deductee about other employment payments and tax and relief for arrears/advances, and must gross up payments where the deductor is required to bear the tax so that post-deduction net equals the agreed amount.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
