
Proposal for Handling of withholding Tax | Shifting Obligation to Banks | Cheques for Gross Value of Sales to be Deposited
Tax reform – Proposal for finance bill 2019. WHT u/s 153 in the hand of customer to be abolished by shifting the obligation on banks only where cheques for gross value of sales proceeds to be deposited. It will facilitate following; 1- Better coverage of WHT on full value of sales proceeds deposited in banks.