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What is tax collected at source?

April 26, 2017Business collected Finance India source tax taxes

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What is tax collected at source?

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it is a Tax collected at Source of Income. Income Tax Act mandates certain persons, to collect tax while paying salaries, interest, dividends, commissions, tender bills etc. It is not confined to only salaries. Even if one wins any prise or lottery necessary tax has to deducted. The introduction of Tax Deduction at source is with a purpose to curb tax evasion and prompt collection of Tax. ……………….