Provisions regarding Advance Tax Withholding on Payments pursuant to Sections 87, 88, 88A and 89 of the Income Tax Act, 2058, and Advance Tax Collection pursuant to Section 95A

(2083/084)

The Inland Revenue Department, Government of Nepal has issued provisions concerning Advance Tax Withholding and Advance Tax Collection for Fiscal Year 2083/084 under the Income Tax Act, 2058.

These provisions cover tax withholding and collection requirements applicable to different types of payments and transactions under Sections 87, 88, 88A, 89 and 95A of the Income Tax Act.

What Does This Document Cover?

The official notice includes provisions relating to:

• Employment income and remuneration under Section 87
• Interest, rent, service charges, commissions and other payments subject to withholding under Section 88
• Windfall gains under Section 88A
• Payments under contracts and agreements, including certain payments to non-resident persons, under Section 89
• Advance tax collection on capital gains and specified transactions under Section 95A
• Payments that are subject to final tax withholding under Section 92
• Specific tax rates applicable to different categories of taxpayers, payments and transactions

The document also specifies circumstances where tax withholding or collection is not required, along with provisions applicable to resident and non-resident persons.

Official Nepali Document & English Translation

For reference, we have provided both versions of the document:

DOWNLOAD Original Notice (Nepali)

DOWNLOAD Translated Notice (English)

DISCLAIMER: This document is translated for general understanding and should not be used for any legal purpose. Use original Nepali Language notice for final understanding.

** The copyright of the document is vested with BMGS. **