BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of these is NOT a tax that would be automatically withheld from your paycheck?
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sales tax
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federal income tax
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state income tax
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social security tax
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Explanation:
Detailed explanation-1: -In India, the withholding tax is applicable on various sources of income namely: Salary, work contract, Commission, Rent, Interest, Professional services, Technical Services, Income from Business etc.
Detailed explanation-2: -Detailed Solution. The correct answer is MAT. Minimum Alternate Tax (MAT) is a provision in direct tax laws.
Detailed explanation-3: -The answer is (d), Federal and state income taxes. Income taxes are only paid by the employee, although it is you-the employer-who deducts them from your employee’s wages. Confusing, huh?
There is 1 question to complete.