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of <h1>Income Tax Section 195A: Payer Covers Tax, Grosses Up Income to Ensure Recipient Gets Agreed Net Amount.</h1> Section 195A of the Income-tax Act, introduced by the Finance Act of 1987, effective from June 1, 1987, addresses situations where tax on income is borne by the payer under an agreement. It mandates that the income should be grossed up to an amount that, after tax deduction at the applicable rates, equals the net amount specified in the agreement. This ensures that the payer covers the tax liability, allowing the recipient to receive the agreed net income.
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