Section 200 of ITA, 1961 : Section 200: Duty Of Person Deducting Tax
ITA, 1961
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Explanation using Example
Imagine a software development company, "Tech Innovations Ltd.," that employs several software engineers. As per the Income-tax Act, 1961, every month "Tech Innovations Ltd." deducts a certain amount from the salaries of its employees as Tax Deducted at Source (TDS). Section 200 of the Income-tax Act, 1961, mandates that "Tech Innovations Ltd." must deposit this TDS with the Central Government within the prescribed time frame.
For example, if the company deducted TDS from its em...
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