+- Accountancy Forum (https://www.accountancy.com.pk/forum)
+-- Forum: The Profession (https://www.accountancy.com.pk/forum/forum-the-profession)
+--- Forum: Tax (https://www.accountancy.com.pk/forum/forum-tax)
+--- Thread: Differentiate (/thread-differentiate)
Differentiate - AslamK - 06-27-2009
Dear Experts
Please advise that what is among income tax, witholding tax and payroll tax
thanks in advance
- faisal_desperado - 06-27-2009
Dear,
<b>Income tax</b> is a direct tax , which is imposed on the income of individuals, AOPs and Corporates.
<b>Withholding Tax</b> is the amount of tax withheld by the employer/agent on behalf of its employees/principal to be paid in future time priod ,
There is a time dfferentiation in between deduction of taxation and its payment, the same Gap is called the time of tax withheld.
<b>Payroll Tax </b> is amount of tax, deducted on payment of payroll.
Best Regards,