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1961Section 198

198. Tax deducted is income received.

In the 2025 Act1 match · Unreviewed

From the Income Tax Department's correspondence.

All sums deducted in accordance with the foregoing provisions of this Chapter 55[and income-tax paid outside India, by way of deduction, in respect of which an assessee is allowed a credit against the tax payable under this Act], 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.

Footnotes

  1. 55.Ins. by Act No. 15 of 2024, w.e.f. 1-4-2025.↩

Income-tax Act, 1961: text as on 22 May 2026 · Official source ↗ ·