Withholding Tax
Certain types of income paid to companies or person are subject to withholding tax at source. The withholding tax rates depend on the types of income and the tax status of the recipient. The payer of income is required to file the return and submit the amount of tax withheld to the Revenue Dept within seven days of the following month in which the payment is made. The tax withheld will be credited against final tax liability of the taxpayer at the time of filing returns