Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / arunsidharthan
Withholding tax is the amount withheld by the party making
a payment to another (payee) and paid to the taxation
authorities. The amount the payer deducts may vary,
depending on the nature of the product or service being
paid for. The payee is assessed on the gross amount, and
the tax to be withheld (the withholding tax) is computed in
that assessment. The purpose of withholding tax is to
facilitate or accelerate collection, by collecting tax from
payers rather than a much greater number of payees, and by
collecting tax from payers within the jurisdiction rather
than payees who may be outside the jurisdiction. It may
also be used to counteract tax evasion and tax avoidance.
| Is This Answer Correct ? | 5 Yes | 0 No |
Post New Answer View All Answers
What is the networth percentage observe by banks
Do you know the term account payable?
how to pass provision salary full and settlement(inclusive Bonus,Gratutity etc )please show me entry
What is the equation for acid-test ratio in accounting?
what is dmat charges?
What is corporate assesses?
Horizontal balance sheet versus Vertical balance sheet
Can a company deduct TDS & provide TDS certificate for a bill without actually making payment towards the same??
What is entry of Dishonored cheque issued to supplier
all ques. related to accounts?
Do you know what is the importance of team work in this position?
Hi.. I am pursuing my MBA II year thrgh distance frm O.U HYD., Pls let me know any jobs...in Bank jobssssss
how to pass journal entries for reverse tax on input tax paid
Define executive accounting?
say something about your school
