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.
