09-07-2010, 07:09 PM
Tax deducted on bank profit is final tax for Individuals and cannot be adjusted against income tax liability. However the amount of bank profit is to be shown under FTR Income.
Tax Deducted on Profit is a normal tax for companies. Companies will show the income from Profit under the head " Income From Other Sources" and tax deducted will be adjusted against the Income Tax Liability.
Tax Deducted on Profit is a normal tax for companies. Companies will show the income from Profit under the head " Income From Other Sources" and tax deducted will be adjusted against the Income Tax Liability.
