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What is TDS
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Answer / nimish bhatia
tds stands for tax deducted at sorce... it is the tax that
an assessee has to pay at the time of earning an income..
it is different from tax paid at the time or filing return
since it is paid in the previous year itself...
| Is This Answer Correct ? | 1483 Yes | 257 No |
Answer / vijay gawalkar
TDS stands for Tax deducted at source. Any income payable
to the assessee shall be liable for deduction of tax at
source by the person responsible for making payment. TDS is
deducted at prescribed rate as per the Finance Act of that
year.
| Is This Answer Correct ? | 916 Yes | 164 No |
Answer / murali krishna
TDS is deducted at prescribed rate as per the finance act
of that year standards for tax deducted source.
| Is This Answer Correct ? | 332 Yes | 174 No |
Answer / mohan
TDS is statutory obligation improved by Income Tax Laws on
each partnership firm/ Company.
The main motive of Govt. is to collect Income Tax at the
origin itself when payment is being made or expense bill is
accounted for (whichever is earlier).
TDS is applicable on various types of transactions viz.
Interest,Payment to Contractors,payment to
Consultants,Payment of Rent,Payment to Employees etc.
The rate of TDS varies for each of the above categories and
the rate of TDS also varies on the constitution of the
party we are dealing with (Corporate/ Non-corporate).
Further, TDS is liable to be deducted only when the amount
of payment exceeds minimum limit for TDS category in one
accounting year. Further in order to reduce hardship on
smaller contractors a provision is made under Income Tax
rules to levy reduced TDS rate for certain period on due
authorized letter.
| Is This Answer Correct ? | 137 Yes | 25 No |
Answer / sravanthi
TDS Means Tax Deducted at Source, salary TDS means, whoever
will get more than 10000 salary per month, they will come
under the slab (Salary TDS) TDS will charged, Nature of
Payment and it will be in different SECTION
| Is This Answer Correct ? | 297 Yes | 196 No |
Answer / saurabh
TDS (Tax Deducted at source) is the amount which is
deducted by anybody (Individual/Firm/Organisation) who is
having a valid TAN No. and have a valid contract with the
assesse as per the rates defined by the finance ministry
and the amount is being credited in govt. a/c by the tax
deductor and issue a TDS certifiacte to the assesse
| Is This Answer Correct ? | 131 Yes | 35 No |
Answer / vitesh tandel
TDS Means Tax Deducted at Source, salary TDS means, whoever
will get more than 10000 salary per month, they will come
under the slab (Salary TDS) TDS will charged, Nature of
Payment and it will be in different SECTION
| Is This Answer Correct ? | 183 Yes | 103 No |
Answer / sachin kumar
Dear Sir,
What is the TDS rules, How we will charge TDS on Services.
| Is This Answer Correct ? | 169 Yes | 105 No |
what do you mean by contra entry? and where it is used?
34 Answers Accenture, AXA, L&T,
Expand-------CAN
Ramana,our customer directly deposited into our Bank a/c
Dear Friends, Please help me with the below, I am new to the current company and newly accountant. My question is, In Balance sheet, Cash in Drawer is showing excess amount and I could not tally it with sales. Please guide me how do I need to tally CASH IN DRAWER? I don't want to reconcile. I only want to tally. Please help. Thanks in advance.
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