Question

what is over head tax​

Answer 1

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.

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Answer 2

Answer:

Overhead expenses are all costs on the income statement except for direct labor, direct materials, and direct expenses. Overhead expenses include accounting fees, advertising, insurance, interest, legal fees, labor burden, rent, repairs, supplies, taxes, telephone bills, travel expenditures, and utilities.

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