How not to pay "With holding Tax"

[planner123]

Machansla,

Is there a way to refrain from paying "Withholding Tax" ?

Withholding tax = Tax that is charged based on the interest you receive on your savings(In this context).

I have heard that if someone pays PAYE Tax, they don't have to pay or can request relevant authorities to not do charge withholding tax.
Is this applicable ?

 

[Hapuwa]

Get old fast

 

[AccountsBuwa]

Machansla,

Is there a way to refrain from paying "Withholding Tax" ?

Withholding tax = Tax that is charged based on the interest you receive on your savings(In this context).

I have heard that if someone pays PAYE Tax, they don't have to pay or can request relevant authorities to not do charge withholding tax.
Is this applicable ?

WHT on interest is payable regardless of PAYE. There are only two exemptions on WHT on interest as I can recall.

1. For senior citizens up to Rs 1.5 million interest income per year
2. For children's saving accounts, up to Rs.5,000 interest income per month

 

[DJANURADHA@mp3]

FILL THT WHT FORM ... you can collect it ur bank machan

 

[dinukap4]

up

how much do they tax ?