what is diffarant tds and incometex.
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Answer / pravin
TDS is has been paid for the servies what we provide to the
other party & Income tax has been paid for the income what
we earn. But simlarly TDS is the part of Income tax, i.e.
If a person prvide servies to a company, at end of the
financial year that company gives him a TDS certificate for
the payment what they made to him for his services. Since
that person has only that business, while filing his income
tax (Income what he earned from the business), he will also
submite his TDS certificate to avail the tax benifit.
Because the tax has been already deducted from his income.
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Answer / atul bhalerao
TDS IS DEDUCTED BY THE CO FROM THE PAY OF
CONTRACTOR,SUBCONTRACTOR & PROFESSIONAL WHERE INCOMETAX
SHOULD BE PAID ON THE INCOME OF THE CO
| Is This Answer Correct ? | 5 Yes | 2 No |
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