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What is WithHolding tax ?

2006-07-24 10:33:08 · 3 answers · asked by TheWowGuy 1 in Business & Finance Taxes India

3 answers

It is another name of "Tax deducted at Source" against which form 16/16A/16AA is issued.

CA. Deepak Bholusaria

2006-07-25 21:28:35 · answer #1 · answered by DeepakB 3 · 0 0

The William Herschel Telescope or WHT was first conceived in the late 1960s, when the Anglo-Australian Observatory was being designed. The British astronomical community saw the need for telescopes of comparable power in the Northern Hemisphere. Planning began in 1974, but by 1979 the project was on the verge of being scrapped due to a ballooning budget. A re-design cut the price-tag substantially, and Dutch astronomers took a 20% stake in the project, allowing the project to be given the go-ahead in 1981. That year was the 200th anniverary of the discovery of Uranus by William Herschel, and it was decided to name the telescope in his honour. The telescope is a member of the Isaac Newton Group of Telescopes.

2006-07-24 10:40:35 · answer #2 · answered by EmO ChiLd :* 2 · 0 0

When a company has a foreign shareholder (creditor) and pays dividends (interest), the income is usually taxable in the country of the company's domicile. But since the foreign shareholder (creditor) does not have a presence in the country of the company's domicile, the company is required to withhold taxes (i.e., pay dividends and interest net of tax) and pay them on behalf of the foreign shareholder (creditor).

In most countries, withholding rates are lower than the statutory income tax rate.

2006-07-24 10:48:28 · answer #3 · answered by NC 7 · 0 0

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