Tax deducted at source is included in gross income, while specified employer-paid and withholding taxes remain excluded. Tax deducted at source is deemed income received by the assessee and must be included in gross income, notwithstanding receipt of only the net amount. ... Summary
Tax deducted at source is included in gross income, while specified employer-paid and withholding taxes remain excluded.
Tax deducted at source is deemed income received by the assessee and must be included in gross income, notwithstanding receipt of only the net amount. Foreign tax deducted at source receives the same treatment where tax credit is allowable. Employer-paid tax on specified non-monetary perquisites and tax deducted under a specified withholding category are excluded. This deeming mechanism grosss up income for computation and does not create an additional tax liability.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 1
Join Channel
TaxTMI 
