Interested to Buy Any Domain ? << Click Here >> for more details...
if we are purchase on vat tax and sales tax can do tds?
- 4 Answers
- 7024 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Be clear when u ask a question. Let me explain all these
terms :-
Sales Tax - Tax charged on the sale of goods at the rates
prescribed in the Sales tax applicable in a country or
state. It's shown in the Sales Invoice and shall be remitted
by the seller to the government.
VAT (it's not vat tax) :- Value Added Tax is a method of
taxation used in most countries of the world in place of
Sales Tax. VAT is also shown in the Sales Invoice. Under VAT
the seller can adjust the VAT charged by the suppliers on
the purchases made by him while making payment of VAT
charged in his sales invoices. Under VAT the tax is charged
effectively on the value addition by each dealer
(manufacturer or trader)
TDS - It refers to deduction of Tax at Source by the payer
while accounting the amount payable to a vendor or service
provider or at the time of payment as per the applicable law
in the country. In India TDS is more synonymous with
deduction of Income Tax at Source.
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / adi
as per income tax act tds is applicable onthe vendors and
contracoters who have charges service tax but in sale tax
matter you cannt take into consideration as tds
| Is This Answer Correct ? | 0 Yes | 0 No |
While calculating TDS are we to take the value+Tax and then arrive at or take only the value
What knowledge should financial accountant have?
What is the definition of offset accounting?
If A invested Rs.50000/- in F.D. & After maturity he got 56500/-. He added more Rs.43500/- in it & make F.D. for Rs.100000/- how i pass this entry. still bank has not credited 56500/- to A`s Account. please answer me
What is Contra Voucher
what is entry in the book in march and april for salary which is paid in april for march month?
13 Answers Infosys, Maya Buildcon,
WHAT ARE THE DIFFICULT ELEMENT OFF JOB
What is accounting transaction?
Does anybody know anything about BirlaSoft? I got a job offer, they sent me a contract to sign and return, but thank God they didn't ask for any money! But, they said they would send me a check in the mail. And as my first "task" I would have to use that check to order a bunch of accounting software, and I would need to purchase this software ONLY from the vendors that THEY provide. Is this a scam to just get money? I'm wondering if they "own" the vendor they "work" with and launder money that way. I asked the person who was getting my information, as far as my name and address to send the check to, Why would I have to buy software to install in my home computer anyway? Couldn't they just send me a link for the software to download? I'm afraid of the check being fake. Because, if I deposit the check into my checking account and it turns out to be fake, then I'll owe the bank all that money! Hope to hear from someone soon. Thanks.
What is Account receivable & Account payable ?
what are the supporting documents of purchase entry and sales entry?
What is menat by INVOICE?
Audit 
