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+--- Thread: with holding tax (/thread-with-holding-tax)
with holding tax - haseena - 01-25-2010
what actually mean by "ADJUSTMENTs" with respect to withholding tax? can any1 explain it
- Sheraz Ahmad - 01-25-2010
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by haseena</i>
<br />what actually mean by "ADJUSTMENTs" with respect to withholding tax? can any1 explain it
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">The close formula is that
<font size="5"><font color="red">Tax Chargeable against Total Income - Tax Already paid by Tax Payer=Tax Payable/Tax Refundable</font id="red"></font id="size5">
Adjustment of Advance Taxes will be used to control double Taxation.i.e If Tax Chargeable against Chargeable Income is Rs.10,000/- & we have already paid mobile phone taxes u/s 236 for Rs.5000/- for the said tax year then adjustment of tax will be paid for Rs.5000/-(10,000-5,000.
I hope you will understand clearly.
If not then please consult Mr.Faisal Desprado.