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what is tds?

Answers were Sorted based on User's Feedback



what is tds? ..

Answer / pushpendra chauhan

TDS Full form is Tax Deducted at Sourch

When we paid the commission , payment we are deduct the TDS and issue Form 16 to customer/Party

Entry :-
Entry in Journal ( In Tally F7)

1.Dr. By Fees for technical Service Rs -10000/-
Cr. To Party A/c Rs- 10000/-

2. By Party A/c Rs.-3366/-
To TDS on Technical Service Rs.-3366/-

3. By Fees on Technical Service A/c Rs.-10000/-
To Party A/c Rs.-6634/-
To TDS on Tec. Services Rs.-3366/-

Is This Answer Correct ?    4 Yes 0 No

what is tds? ..

Answer / trinadha

Tax Deducted at Sourch

Is This Answer Correct ?    3 Yes 0 No

what is tds? ..

Answer / hemant

TDS : Tax Deduction on Source
It is part of income tax

Is This Answer Correct ?    5 Yes 3 No

what is tds? ..

Answer / malli

TDS full form is tax deduct from source

TDS nothing but reserve of income tax.

Is This Answer Correct ?    1 Yes 0 No

what is tds? ..

Answer / latha

tax detected sources

Is This Answer Correct ?    3 Yes 5 No

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More Taxation Interview Questions

I WANT FULL DETIAL FOR TDS I AM NEW JOING THE GOLD COMPANY I WAN TO PAY TDS BUT I KNO WHAT IS THE TDS PLEASE SEND ANS FOR FULL DETAILS HOW TO PAY, AND WHAT A/C PAY TDS ALL DETAILS I WANT PLEASE SEND THE DETAILS.

1 Answers  


on how much turnover did the excise duty will be implemented?

1 Answers  


if we are purchase in 45 vat tax than we can deduct tds on contract

0 Answers  


How to reimburse TDS(Tax Deducted at Source)? I am getting monthly stipend of RS11,500. But still my employer deducting 1300 pm as TDS. They said they will issue form 16A to reimbruss. Please tell me the procedure to get my money back.

3 Answers   Infosys,


can we take coloing stock in T.P.and is it dr.balance or cr.balance

1 Answers  


What do you mean by an Inter-state Sale. How does it taken Place in a state????

14 Answers   ICAI, Jai Ambe Enterprises, Mayur Paints, Subtleweigh Electric,


What is the meaning of "ROC"? pls give detail information regarding ROC procedure.

16 Answers   ABC, Star,


is it necessary to make payment to party in the same assessment year after deducting tds

2 Answers  


What is the general entry for TDS certificate received from the debtor of the company?

3 Answers   Naveen NDT, Wipro,


Wat are the heads in Taxation?

4 Answers   OPI Global,


if we are purchase in 4% vat tax than can we deduct tds

12 Answers   Komal Texfab,


Ganesh & Gopal joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Ganesh 90000 Withdrawals of Gopal 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.

0 Answers  


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