Why we Deduct TDS ?
Answers were Sorted based on User's Feedback
The basic purpose behind deduction of tax at source is that
there are various payments which are in the nature of
incomes of the person receiving the amount but because when
tds was not in operation these receipt of incomes was
somehow concealed by receiver of income just to evade the
payment of income tax but deduction of tax at source makes
it possible for the department to control all the payments
which are in the nature of income of the receiver & hence
making them liable to show the receipt while calculating
their income tax liability. And accordingly their tax is
calculated.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / suraj
TO ALLOW THE EXP FROM INCOME TAX RULES NOT DISALLOW THE
EXPENDITURE AND NOT ADDED TO N.P., WITHOUT CONNECTING TO
TRADING BUSINESS
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / hemant
TDS is the part of income tax
this is the way for collect income tax if we deduct the
incoem tax is sure that person is liable for return
Whenever to be calculated the net income so that we can,t
show the disallowed expense in p&l accounts
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / sandeep rajput
TDS is a method for collecting the Income tax in advance
and to cover the more person in area of Income tax.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / bhaskar
To Know whar is the actual net surplus in organisation
| Is This Answer Correct ? | 0 Yes | 2 No |
I'am accountant working in a trading concern. I wish to become an accountant in a manufacturing/construction company.are there any books available in the market from which I can get an Idea as to how accounts are prepared and maintained for a manufacturing/construction company.
what is the main difference between Outstanding & Accrued Expenses?
What is suspense account?
What Does Random Walk Theory Mean?
i am a registerd Dealer in Delhi i have Purchase Some Capital goods can i take inpute vat banifit if yes pls spacifie.
In which book we can learn in detail of closing stock valuation. And if any site is available kindly help.
In Individual Accounting Capital comes under which head?
Explain me what is important to effective market analysis?
how to show provident fun in balance sheet
4 Answers Genpact, WBCS West Bengal Civil Service,
Explain how the following transactions would be recorded in a cash book with Cash and Bank columns? i) Deposit of cash into Bank ii) Withdrawal of money from Bank for office use iii) Deposit of cheques (received from others) into Bank iv) Dishonour of cheques deposited into Bank I need a detailed answer..thanks..
3 Answers ABC, Aroma, College School Exams Tests, IDA, Ignou,
Describe the proof of cash type of bank reconciliation?
cost of normal waste of material under contact costing is debit to : 1)contract a/c 2) trading a/c 3) matrial a/c 4) profit and loss a/c