Withholding tax scope expanded to include specified income categories and contract payments, increasing tax deduction at source obligations. Amendment broadens tax collection at source by substituting the reference in clause (a)(ii) to include capital gains and the additional income category defined in the income-definition sub-clause of clause 24 of section 2, and by extending clause (a)(iii) to add the provision governing payments to contractors alongside the existing provision for specified interest payments.
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Withholding tax scope expanded to include specified income categories and contract payments, increasing tax deduction at source obligations.
Amendment broadens tax collection at source by substituting the reference in clause (a)(ii) to include capital gains and the additional income category defined in the income-definition sub-clause of clause 24 of section 2, and by extending clause (a)(iii) to add the provision governing payments to contractors alongside the existing provision for specified interest payments.
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