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A person purchases property of Rs. 3,000,000 in the name of his wife. Payments made at full through his bank account. Further, he paid the following amounts on the said property. Stamp duty 10,000 Capital value tax 5,000 Withholding tax {236(K)} 3,000 Development charges 20,000 Can a person claim the withholding tax of...
Tax is a levy imposed on the individuals, firms or corporates by the government. It is enforced to raise funds for spending, expenditures, resource allocation, income redistribution, and economic stability among the people of the country. These taxes can be progressive, proportional or regressive in nature. Direct and Indirect Taxes Taxes are bifurcated...