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EXPLAIN ABOUT TDS?
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Answer / dm
TDS is Tax deduction at source.
There are some provisions in the income tax laws about the
pre deduction of tax out of the payments made to
contractors, Consultants, Lawyers, Employees, Lenders,
Owners of property etc.
After deduction from payment, deductor has to pay it to the
govt. treasury on due time provided in the legislation.
| Is This Answer Correct ? | 126 Yes | 13 No |
Answer / swathi
TDS MEANS TAX DEDUCTION SOURCE, IN THAT WE ARE DEDUCTING
THE ALL REVENUES OF EMPLOYEES.
| Is This Answer Correct ? | 103 Yes | 29 No |
Answer / manoj bassi
Dear Mr. Venkatesh & Nataraju,
TDS is lieved on the above mentioned categories.
But regarding TDS on Salary for the current FY i.e. 2008-09
The following rates are applicable for men only:
Salary Amt. Rate of Deduction
0-1,50,000.00 0%
1,50,001-3,00,000.00 10%
3,00,001-5,00,000.00 20%
Above Rs. 5,00,000.00 30%
| Is This Answer Correct ? | 44 Yes | 8 No |
Answer / roshan kumar
Aftr deduction of tax, we can deposit tax upto 7th of next
month. We can deposit tax by on line or in bank.
| Is This Answer Correct ? | 24 Yes | 6 No |
Answer / nataraju.s
Dear Venkatesh,
It is wrong, Annual Tax Payable is 10000 + 3% Education
Cess = 10300/12 = 858 should be deducted every month
| Is This Answer Correct ? | 35 Yes | 19 No |
Answer / tamil selvan
TDS on Salary for the current FY i.e. 2009-10
TDS - TAX deducted at source
for individual Tax payer
upto 160000 - nil
160001 - 300000 -10%
300001 - 500000 -20%
above 500000 - 30%
For woman
upto 190000 - nil
190001 - 300000 -10%
300001 - 500000 -20%
above 500000 - 30%
for senior citizen
upto 240000 - nil
240001 - 300000 -10%
300001 - 500000 -20%
above 500000 - 30%
| Is This Answer Correct ? | 19 Yes | 9 No |
Answer / bhawna mehta
First of all I want to make correction on tds defination it
means
Tax Deducted at Source
| Is This Answer Correct ? | 4 Yes | 2 No |
I want know about the type of taxes? Why a company charged lesser tax against the 'C'form. what is th role of 'C' form and what is the custome duty and percentage of custome duty?
1. we pay rent of Rs:62500/= for that we deduct tds =6250.00 and the landlord claim service tax 6437.10(62500*10.3/100), we normaly paid on 05th of next month. My Question is 1. What is the Journal Enrty for this 2. Journal Entry when at Payment of TDS Please help me Regards sakthi
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