Section 92 : Payment from which tax is withheld finally

1) The following payments shall be treated as payments from which tax is withheld finally:-

a) Dividend paid by a resident company or partnership firm,

b) Rent paid for the land or building and fixtures and equipment appurtenant thereto having source in Nepal to other natural people except one who is carrying on business,

c) Profit paid by a resident person for investment insurance,

d) Profit paid by a resident person for the interest of an unapproved retirement fund,

e) Following interest paid by a bank, financial institution or other entity issuing bonds (debentures) or company enlisted under prevailing law or cooperative organisation mentioned in sub-section (3) of Section 88:

1) Payment made to an individual not having a source in Nepal and not related to the operation of a business,

2) Payment made to the organization entitled to enjoy exemption pursuant to clause (o) of Section 2.

f) Payment subject to tax withholding made to a non-resident person pursuant to Sections 87, 88, 88A or 89,

g) All kinds of retirement payments, including those paid by the Government of Nepal or approved retirement fund or unapproved retirement fund (except regularly paid pension),

h) Meeting allowance of up to twenty thousand rupees per meeting, payment for teaching every time, making question papers or examining answer sheets,

i) Payment for a windfall gain,

j) Amount of consideration to be distributed to individuals from a mutual fund,

k) Payment for rent of a motor vehicle or carrier vehicle or carriage service of an individual except a private firm.

2)If the person withholding tax or the person subject to tax withholding pays to the Department the amount of tax withheld from the payment from which tax is withheld finally pursuant to Sections 87, 88, 88A or 89 or the amount of tax deemed to have been withheld pursuant to sub-section (3) of Section 90, the person referred to in clause (c) of Section 3 shall be deemed to have fulfilled the tax liability.