Rates for deduction of tax at source specify withholding obligations for resident payees across listed payment categories. The Third Schedule sets prescribed rates for deduction of tax at source on specified payments to resident deductees, assigning fixed withholding rates to categories such as income from employment (computed at the average income tax rate under the First Schedule), works and service contracts, interest, dividends, mutual fund distributions, life insurance payouts, commission and brokerage, professional and technical fees, royalties and non compete fees, compensation for compulsory acquisition of immovable property, various forms of rent, and winnings from lotteries and horse races; certain payee classes (e.g., individuals/HUFs versus others) are treated distinctly where specified.
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.
Rates for deduction of tax at source specify withholding obligations for resident payees across listed payment categories.
The Third Schedule sets prescribed rates for deduction of tax at source on specified payments to resident deductees, assigning fixed withholding rates to categories such as income from employment (computed at the average income tax rate under the First Schedule), works and service contracts, interest, dividends, mutual fund distributions, life insurance payouts, commission and brokerage, professional and technical fees, royalties and non compete fees, compensation for compulsory acquisition of immovable property, various forms of rent, and winnings from lotteries and horse races; certain payee classes (e.g., individuals/HUFs versus others) are treated distinctly where specified.
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 
