48. Deduction at source and advance payment of tax.-

CHAPTER VII
PAYMENT OF TAX BEFORE ASSESSMENT

48.  Deduction at source and advance payment of tax.-

(1) Notwithstanding that regular  assessment  in  respect  of  any  income  is  to  be  made  later  in  any assessment  year,  and  without  prejudice  to  the  charge  and  recovery  of  tax under  this  Ordinance  after  such  assessment,  the  tax  on  income  shall  be payable by deduction or collection at source, or by way of advance payment, in accordance with the provisions of this Chapter.

(2)  any  sum  deducted  or  collected,  or  paid  by  way  of  advance  payment,  in accordance  with  the  provisions  of  this  Chapter,  shall,  for  the  purpose  of computing the income of an assessee, be deemed to be the income received, and be treated as payment of tax in due time, by the assessee.

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