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Tax deduction at source (TDS) has come into existence with the motive of collecting tax from different sources of income. As per this concept, a person (Payer) who is responsible to make payment of specified nature to any other person (Payee) shall deduct tax at source before making payment to such person (Payee) and remit the same into the account of the Central Government.
The Payment of Gratuity Act, 1972 is an Indian law that makes companies pay a one-time gratuity to retiring employees or employees who resigns after a minimum of 5 years of service. The law applies to all companies of at least 10 employees. [1] The gratuity is 15 days' wages for every year of employee service, or partial year over six months.
The primary form of withholding tax discussed is the one applicable to personal income of U.S. residents, a mandatory requirement for all employers across the nation. In the prevailing system, employers collect this withholding tax and transmit it directly to the government, while individuals settle any remaining tax liabilities upon filing ...
Experts recommend leaving a tip of 15% to 20% for taxi, Uber or any ride-share driver. While this is the ideal tip percentage to leave, if you are unable to meet this amount, show gratitude in any ...
A gratuity may be added to the bill without the customer's consent, contrary to the law, [99] either explicitly printed on the bill, or by more surreptitious means alleging local custom, in some restaurants, bars, and night clubs. However, in 2012, officials began a campaign to eradicate this increasingly rampant and abusive practice not only ...
When a restaurant adds an automatic gratuity, it means that the restaurant has charged a serving fee. Typically, a gratuity fee may be 18% of the total bill. Alicia Thompson, CEO of the Myrtle ...
“A 15% tip used to be something that servers could hope to make if they did a good job,” said Melanie Musson, a finance expert with Clearsurance. “Now, customers are expected to tip 15% for ...
Mandatory tipping (also known as a mandatory gratuity or an autograt) is a tip which is added automatically to the customer's bill, without the customer determining the amount or being asked. It may be implemented in several ways, such as applying a fixed percentage to all customer's bills, or to large groups, or on a customer-by-customer basis ...