09-22-2005, 03:43 AM
Dear...
To the extent I understood your question, I think you are contaminating the concept of income chargeable under Normal Tax Regime and income chargeable under Presumptive Tax Regime (PTR). Tax deducted on withdrawals from bank is adjustable against your final tax liability; it means that your income is not double taxed. However, the concept of PTR is different, it is also termed as blind tax....
To the extent I understood your question, I think you are contaminating the concept of income chargeable under Normal Tax Regime and income chargeable under Presumptive Tax Regime (PTR). Tax deducted on withdrawals from bank is adjustable against your final tax liability; it means that your income is not double taxed. However, the concept of PTR is different, it is also termed as blind tax....
