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Investment Income deducted at source

D

Dar_Shan0209

Ton up Member
Hello,

I am going through the CB1 Notes Chapter 3 Taxation. I am not grasping the concept for- Investment Income deducted at source.

Any help on this?

Thank you,
Darshan
 
Hi, I assume you are referring to the paragraph on page 5 of the course notes. This indicates that if an investor receives an income payment of P after there has been tax deducted at source of T, then the gross amount of (P+T) is often declared to the tax authorities. But when tax is calculated, the amount T that has already been paid, will be taken into account to reduce the further tax that may be payable.
 
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