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Deduction of Tax at Source
Deduction of Tax at Source
Deduction of Tax at Source
Example
In certain cases of income, tax at source is deducted by person responsible for making payment of such income.
Tax to be deducted at source from Interest other than Interest on securities [Sec 194A]
Where interest is credited or paid in respect of deposits under schemes of Post Office (PO time deposits, PO recurring deposits, Kisan Vikas Patra, Indra Vikas Patra, National Saving Certificate VIII Issue). Where interest is paid or credited by the Central Govt. under different provisions of direct taxes.
Tax to be deducted at source from Winnings from Lotteries or Crossword puzzles [Sec 194B]
Tax to be deducted at source from Winnings from Horse Races [Sec 194BB]
Tax to be deducted at source from Commission on Sale of Lottery Tickets [Sec 194G]
Every person being a seller, shall collect from the buyer of goods specified in section 206C(1) tax at source.
Seller means Central Govt. , State Govt., local authority, firm or any company. Buyer means person who obtains in any sale by way of auction, goods of nature specified in Section 206C(1).