Tax deduction at source framework prescribes payment-based withholding, exemptions, nil-tax declarations, grossing-up and suspense-account treatment.

Section 393 establishes tax deduction at source on specified payments to residents, non-residents and other persons at rates, thresholds and times prescribed in the applicable Table. Deduction generally occurs at credit or payment, while suspense-account credits are deemed payee credits. Exemptions apply where prescribed conditions are met and for specified exempt recipients and payments. Eligible recipients may furnish nil-tax declarations, subject to income-limit conditions for non-senior citizens; payers or depositories must submit received declarations to the prescribed income-tax authority within the required quarterly timeline.

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