Question

what is over head tax​

Answer 1

Question :-

what is overhead tax ?

☺ANSWER :

overhead tax is the tax which should have been deducted from past interest. Banks give interest on Fixed deposit and deduct tax before crediting interest. In some cases, tax was not deducted but interest credited.

Answer 2

Answer:

Simply saying, overhead tax is the tax which should have been deducted from past interest. Banks give interest on Fixed deposit and deduct tax before crediting interest. ... Then what happens is that the tax will be deducted twice when next interest will be credited.