EXPLAIN ABOUT TDS?
Answers were Sorted based on User's Feedback
Answer / dm
TDS is Tax deduction at source.
There are some provisions 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.
After deduction from payment, deductor has to pay it to the
govt. treasury on due time provided in the legislation.
Is This Answer Correct ? | 126 Yes | 13 No |
Answer / swathi
TDS MEANS TAX DEDUCTION SOURCE, IN THAT WE ARE DEDUCTING
THE ALL REVENUES OF EMPLOYEES.
Is This Answer Correct ? | 103 Yes | 29 No |
Answer / manoj bassi
Dear Mr. Venkatesh & Nataraju,
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%
Is This Answer Correct ? | 44 Yes | 8 No |
Answer / roshan kumar
Aftr deduction of tax, we can deposit tax upto 7th of next
month. We can deposit tax by on line or in bank.
Is This Answer Correct ? | 24 Yes | 6 No |
Answer / nataraju.s
Dear Venkatesh,
It is wrong, Annual Tax Payable is 10000 + 3% Education
Cess = 10300/12 = 858 should be deducted every month
Is This Answer Correct ? | 35 Yes | 19 No |
Answer / tamil selvan
TDS on Salary for the current FY i.e. 2009-10
TDS - TAX deducted at source
for individual Tax payer
upto 160000 - nil
160001 - 300000 -10%
300001 - 500000 -20%
above 500000 - 30%
For woman
upto 190000 - nil
190001 - 300000 -10%
300001 - 500000 -20%
above 500000 - 30%
for senior citizen
upto 240000 - nil
240001 - 300000 -10%
300001 - 500000 -20%
above 500000 - 30%
Is This Answer Correct ? | 19 Yes | 9 No |
Answer / bhawna mehta
First of all I want to make correction on tds defination it
means
Tax Deducted at Source
Is This Answer Correct ? | 4 Yes | 2 No |
Loan or gift from NRI for business?
who is liable to pay excise duty on monthly basis?or what is slab for excise duty liable to pay for monthly,quarterly ro half yearly?
If I sale old fixed assets then what will be its entry passed. In loss as well as in Profit condition. Plz. advised me with example.
Excisable material sold without charging excise duty, Now after 3 months, I am issuing Suplimantary bill to party for Excise payment, now please tell me the interest need to pay for this and also is there need to pay interest if i have sufficiant amount of cenvate credit balance in these 3 months.
Hello Durgaprasad Sir, iam received a farmat of credit availed and utilized from Excise and Service tax department, but i have no idia for filling this farmat. can you tell me detail about this or tell me where it available in internet.
What is the treatment of Live Stock ? if it is transfer to the Profit & Loss Account or otherwise it will be treated?
Wat is 80cc? and examples
Deferred taxation is a part of which equity?
IF I DIDNT FILL TDS RETURN I PAYING ALL TAX WHAT IS THE PROCEDURE
E payment is valid for Income Tax only or can other payment will me made?
Can anybody give the rates of TDS for daily purchased things like food,metal,wine,electrical item,civil items etc.
Are woollen Blankets (Rugs) taxable under CST ? Can unregistered party sell it.