What is a tax credit? If tax has been deducted at the source (TDS) and the same deposited with the government, it would be treated as a tax paid on behalf of the individual from whom such deduction was done. In short, a tax credit would be allowed to the individual whose tax has been…
What is a tax credit? If tax has been deducted at the source (TDS) and the same deposited with the government, it would be treated as a tax paid on behalf of the individual from whom such deduction was done. In short, a tax credit would be allowed to the individual whose tax has been…
What is a tax credit? If tax has been deducted at the source (TDS) and the same deposited with the government, it would be treated as a tax paid on behalf of the individual from whom such deduction was done. In short, a tax credit would be allowed to the individual whose tax has been…
High Court of Gujarat in case of Devarsh Pravinbhai Patel v/s Asst Commissioner Of Income Tax has held that TDS credit has to be provided by Income-tax authorities to the deductee even if TDS is not deposited by the deductor. If employer deducted TDS on salary payments made to the assessee and did not deposit…