How will tax deductions affect enterprises in India?
All entities in India – including foreign representative offices and Indian setups, such as wholly-owned subsidiaries – are required to make tax deductions at source on employees’ salaries on behalf of the Income Tax Department.
The following payment and compliance schedule shall be obeyed:
- Payment – 7th of the next month; April 30 for the month of March
- Quarterly returns – 15th of the next month from the end of the quarter
- Issue of certificate – 30th of the next month
- Salaried certificate – by 30 May
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