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what is majore differance between TCS & TDS
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Answer / manoj devda
TDS is related to income tax dedcuted from the payment made
at source.where as TCS is related to the tax collection
from the sale of particular products.
| Is This Answer Correct ? | 11 Yes | 0 No |
My dear friends both TDS and TCS are same It is tax
collected on behalf of the Govt from the assessee.
Tcs.It is the Advance collection of Tax at the time sale of
certain notified products Those are Forest produce
TDS it is the advance tax collection from the assessee at
the time of payment made on some specified payments
Ex.Deduction of advance tax while making payment to contractor
To know more explanations and exclusive topics pl visit my
favourite site http://www.therealaccountants.com
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / mittaldn@allinterview.com
tcs charge in the invoice and tds deducted from contractor
| Is This Answer Correct ? | 2 Yes | 4 No |
if we purchase tangible material on the basis of Vat @12.5% and we are service industry, than can we make the invoice on that material on the basis of Service Tax @ 12.36% with Management Fee?
I renders interior Services, consider one project cost Rs.500000/- Scenario 1 - Material purchased on my Firm Name Material - 300000 - 0 On party behalf Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit Scenario 2 - Material purchased by client Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit In both Profit is same Rs. 50000/-. which is beneficial for me in terms of turnover or tax matters. and if I have to raise a bill to party as per both scenario, how it will affect bill and tax, where will I suffer loss?
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80DD Dediction
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V R MAKING COMMERCIAL CUM EXCISE INVOICE,THEN HOW INVOICE NUMBER CAN BE GIVEN COMBINDLY OF TAX INVOICE/RETAIL INVOICE AND EXCISE INVOICE.
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What is Excise duty? What is Edu Cess & Sec Edu Cess? Why and when it is applicable? What is Excise Claiming?
what is the proccesor to caculate the firm assement
How will we caluclate interest on advance tax ?
which items should be covered the Entry Tax by HP Govt instead of Purchased
Audit 
