Tax collected at source for cars can have a big Impact.

By Sumit Tax collected at source for cars can have a big Impact. Custom Tag

 There is going to be new way which an individual is going to feel that impact of a tax that is adjusted in their payments. This is related to a new provision that has been brought about in the budget this year related to the purchase of a car above RS 10 lakh. There would be a tax collected at source and it is interesting to see what would actually happen here because this is going to be this basis on which the individual will be able to take care of the details in their tax returns.Chartered accountant firms

Tax collection at source.

The process of tax collection at source is a bit different from a tax deduction at source, Here the amount that is being paid by an individual is not their income because it is an expense that they are making. However the person who is receiving the payment will still take a certain percentage of the figure and then deposit this with the government as tax collected at source.

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By Sumit October 8, 2013 10:23 Custom Tag