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TMI Blogwhat is with holding taxX X X X Extracts X X X X X X X X Extracts X X X X ..... what is with holding tax X X X X Extracts X X X X X X X X Extracts X X X X ..... How are the rates of taxes applied under DTAA. 3 .How is the Taxable turnover determined for income tax purposes. Reply By Mukesh Kumar: The Reply: Withholding Tax is nothing but a tax which is de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ducted at source by the person making payment to other party. In general this term is used for overseas payment where the person making payment is required to deduct tds u/s 195 of the income tax. Sin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce the provisions of DTAA notified in pursuance of power u/s 90 have overriding effect it is prescribed that most beneficial provisions are applicable for the purpose of taxation. Therefore, to appl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the provisions of DTAA, it is required to understand the DTAA as a whole, the scope of DTAA and nature of income subject to DTAA than only one can apply the provisions of DTAA correctly. 'Taxable T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urnover' is a general term which is found under section 44AB read with section 145A of the Income Tax Act. But, before that, general account principals to be applied to determine the taxable turnover ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the business. X X X X Extracts X X X X X X X X Extracts X X X X
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