TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Manuals
of of All Manuals
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Understanding Section 190 & 191: Pre-Paid Taxes and Direct Payment Obligations for Income Tax Compliance</h1> Section 190 of the Income Tax Act mandates that tax on income must be paid in the previous year through deduction or collection at source, or via advance payment, even though the regular assessment occurs later. Taxes paid in advance or deducted at source are termed pre-paid taxes and are deductible from the total tax due. Section 191 requires direct tax payment by the assessee when tax is not deducted at source, especially for income like specified securities or sweat equity shares from eligible start-ups. Failure to deduct or pay taxes by employers or others results in being deemed an assessee in default under Section 201(1).
TaxTMI 
TaxTMI 
