6. Major Statutes and Conformity Provisions Income tax law is not static. The taxpayer must be conscious of all these changes. The most worthy of these provisions include • Withholding Tax: Tax at source to be deducted by employers and other third parties while making payments as salary, rents, or contractor's fees. • Advance Tax: Most countries have a provision that if the income... https://www.fbsedu.in/static/js/main.59b6eaac.js:2:108407