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WIthholding Tax Amount
02-19-2015, 02:00 PM
Post: #1
WIthholding Tax Amount
Dear Seniors,

If the advance payment of a contract made with a tax deduction which was deposited as well. But later on contract goes into Cancellation without any deliver. How much refund should be; the gross amount or the net amount? Either payer will book tax amount as cost or the receiver has to refund gross amount and will accept tax deduction certificate?

Waiting for a kind responseSmile

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WIthholding Tax Amount - Jay - 02-19-2015 02:00 PM
RE: WIthholding Tax Amount - Sheraz Ahmad - 04-16-2015, 02:28 PM

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