Section 198 of Income Tax Act 1961

Tax deducted is income received

All sums deducted in accordance with the foregoing provisions of this Chapter shall, for the purpose of computing the income of an assessee, be deemed to be income received :

Provided that the sum being the tax paid, under sub-section (1A) of section 192 for the purpose of computing the income of an assessee, shall not be deemed to be income received:

Provided further that the sum deducted in accordance with the provisions of section 194N for the purpose of computing the income of an assessee, shall not be deemed to be income received.

author avatar
CA Bhuvnesh Goyal Partner
CA Bhuvnesh Goyal is a Chartered Accountant with expertise in taxation, finance, and business compliance. He shares practical insights to help readers navigate complex financial matters with ease.