Taxes paid by Taxpayer includes TDS (Taxes paid on its behalf)

Advertisement ACIT Vs North American Coal Corporation India Pvt. Ltd. (ITAT Pune) A careful perusal of the ITSC direction explicitly indicates that the AO shall compute the tax payable ‘after giving credit for taxes already paid by the applicant’. `Taxes already paid’ do not mean only the taxes directly paid by the assessee but also those paid on its behalf. Sub-section (1) of section 199 with the caption `Credit for tax deducted’ states that “Any deduction made in accordance with the foregoing provisions of this Chapter and paid to the Central Government shall be treated ...