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EXPLAIN ABOUT TDS?
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Answer / pradeep kumar
TDS is Tax deduction at source.
Tds means tax deduction source in that we are deducting
the all revenue of Employees.
Threre are some proveisions in the income tax laws about
the pre deduction of tax out of the payments made to
contractors, Consultants, Lawyers, Employees, Lenders,
Owners of Property etc.
| Is This Answer Correct ? | 4 Yes | 4 No |
Answer / shivamma
shivamma
TDS -Means tax deduction source
Dear Mr. Venkatesh & Nataraju,
I want to one more point to the following
TDS is lieved on the above mentioned categories.
But regarding TDS on Salary for the current FY i.e. 2008-09
The following rates are applicable for men only:
Salary Amt. Rate of Deduction
0-1,50,000.00 0%
1,50,001-3,00,000.00 10%
3,00,001-5,00,000.00 20%
Above Rs. 5,00,000.00 30%
Above 10,00,000.00 30% + 10%( as surcharge)
| Is This Answer Correct ? | 5 Yes | 10 No |
Answer / sandeep kumar
Dear Mr. Venkatesh & Nataraju,
I want to one more point to the following
TDS is lieved on the above mentioned categories.
But regarding TDS on Salary for the current FY i.e. 2008-09
The following rates are applicable for men only:
Salary Amt. Rate of Deduction
0-1,50,000.00 0%
1,50,001-3,00,000.00 10%
3,00,001-5,00,000.00 20%
Above Rs. 5,00,000.00 30%
Above 10,00,000.00 30% + 10%( as surcharge)
| Is This Answer Correct ? | 5 Yes | 13 No |
Answer / venkatesh
calucalating the amount of tax for the current financial
year in begining,with respect to that deduct the part of
amont of tax(ex:He/She salary for the month is 20,000 i.e.
for the whole year 2,40,000 (20000*12)
Rate of Tax
Up to 1,50,000 Nil NIL
1,50,000-2,50,000 10% 10,000
That means above 10000 will be deduct from their income
monthly.
opinion: to reduce the burden of paying a tax at a time
| Is This Answer Correct ? | 34 Yes | 51 No |
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