10-19-2011, 12:30 AM
AoA,
I want to know the difference between income tax and withholding tax. If any one can demonstrate with a good example it would be kind enough ).
Also critically examine this statement
If Income Tax Exemption Certificate is not provided then 3.5% of the value would be deducted as Income Tax.
I am confused now because 3.5% is the rate of withholding tax and income tax is on taxable income.
please share your experience and clear my concept.
Best Regards,
ALI AMJAD
I want to know the difference between income tax and withholding tax. If any one can demonstrate with a good example it would be kind enough ).
Also critically examine this statement
If Income Tax Exemption Certificate is not provided then 3.5% of the value would be deducted as Income Tax.
I am confused now because 3.5% is the rate of withholding tax and income tax is on taxable income.
please share your experience and clear my concept.
Best Regards,
ALI AMJAD
