Pay-as-you-earn (PAYE)

Tax Glossary Definition

Pay-as-you-earn (PAYE)

Pay-as-you-earn (PAYE) – A system where employers deduct income tax from employees’ salaries each month and deposit it with the government, ensuring timely tax payment throughout the year. Example: An employer deducts ₹10,000 TDS every month from an employee’s salary under PAYE

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