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 ... Summary
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.
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