Withholding tax treatment: tax paid under payroll deduction is not treated as income received for income computation. The amendment specifies that amounts representing tax paid under payroll withholding provisions for computing an assessee's income shall not be deemed to be income received, thereby excluding such withheld tax from gross receipts for income computation purposes.
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.
Withholding tax treatment: tax paid under payroll deduction is not treated as income received for income computation.
The amendment specifies that amounts representing tax paid under payroll withholding provisions for computing an assessee's income shall not be deemed to be income received, thereby excluding such withheld tax from gross receipts for income computation purposes.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.