Common use of Tax implication Clause in Contracts

Tax implication. Income Tax will be deducted at source wherever applicable as per the provisions of the Income Tax Act,1961 and the rules framed thereunder or any subsequent modification or substitution thereof. You are solely responsible for declarations and implications arising under the Income Tax Act, 1961 and the rules framed thereunder or any subsequent modification or substitution thereof. You agree to promptly declare your correct income to the Tax Authorities and pay applicable tax thereupon. Any false declarations in respect of financial disclosures shall be a cause for disciplinary action including termination at Company’s discretion.

Tax implication. Income Tax will be deducted at source wherever applicable as per the provisions of the Income Tax Act,1961 Act, 1961 and the rules framed thereunder or any subsequent modification or substitution thereof. You are solely responsible for declarations and implications arising under the Income Tax Act, 1961 and the rules framed thereunder or any subsequent modification or substitution thereof. You agree to promptly declare your correct income to the Tax Authorities and pay applicable tax thereupon. Any false declarations in respect of financial disclosures shall be a cause for disciplinary action including termination at CompanyCompany ’s discretion.