Tax deduction at source applies according to recipient, payment type, thresholds, timing, exemptions, declarations, and grossing-up rules. Tax deduction at source under section 393 applies to specified payments based on the recipient, payment type, threshold, rate and timing prescribed in the ... Summary
Tax deduction at source applies according to recipient, payment type, thresholds, timing, exemptions, declarations, and grossing-up rules.
Tax deduction at source under section 393 applies to specified payments based on the recipient, payment type, threshold, rate and timing prescribed in the applicable Table. Resident payments generally attract deduction on the whole amount after the threshold is crossed, while non-resident payments have no threshold unless specifically prescribed. Specified exemptions cover designated exempt persons, certain Offshore Banking Unit interest and payments connected with the New Pension System Trust. Eligible recipients may furnish a nil-tax declaration subject to stated conditions, and payers or depositories must submit it within the prescribed quarterly timeline. Suspense-account credits are treated as credits to the payee.
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