Withholding Tax in India 2022: All You Need To Know

Presenter(s):

• 

  Divyansh Shrivastava

  Assistant Manager, Corporate Accounting Services
  

On May 24, Corporate Accounting Services Assistant Manager Shubham Dua and Senior Associate Divyansh Srivastava hosted a webinar on Withholding Tax in India.

Withholding Tax (or Retention Tax) is the obligation taxpayers are bound by, to withhold tax when transacting under specific heads such as (salaries, commission, rent, payment for professional services, contracts, etc.) at the rates that have been specified in the ongoing tax regime at the time.

The amount that an employer withholds from its employees' wages and pays directly to the government is a good example of withholding tax. The amount withheld is a credit against the income taxes the employee must pay during the year. In short, withholding tax is the government’s way to ensure that taxes are paid timely, by deducting the relevant tax amount from an individual or enterprise’s income.

For foreign nationals rendering services in India, it is important to understand the scope of their taxable income and the related withholding tax implications in India, as the liability of the payment of Indian income tax is dependent on the individual’s physical presence in India, regardless of citizenship or the purpose of their stay.

Watch this webinar to understand the rules and regulations pertaining to withholding tax in India and the practical knowledge required to fulfil withholding tax obligations of your organization.

Shubham and Divyansh will cover the following topics in the webinar:

• Overview of Withholding tax provisions in India
• Withholding tax provisions on domestic payments
• Withholding tax on payments to non-residents
• Compliances for payer and payee
• Recent tax updates
• Relevance of DTAA, Transfer Pricing, BEPS 2.0, and Equalisation Levy in Withholding Tax