Deduction under cash withdrawal provision not treated as income received, preserving assessee income computation for tax purposes. The amendment inserts a proviso to section 198 clarifying that sums deducted under the cash-withdrawal withholding provision shall not be deemed to be income received for the purpose of computing an assessee's taxable income, effective from the first day of September, 2019.
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 under cash withdrawal provision not treated as income received, preserving assessee income computation for tax purposes.
The amendment inserts a proviso to section 198 clarifying that sums deducted under the cash-withdrawal withholding provision shall not be deemed to be income received for the purpose of computing an assessee's taxable income, effective from the first day of September, 2019.
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