What is TDS? Please explain rate of TDS.
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Answer / gautam sharma
TDS MEANS TAX DEDUCTED AT SOURCES. THAT MEANS TAX SHOULD BE
DEDUCTED ON THE INCOME OF THE ASSEASSEE AT THE TIME OF
PAYMENT OR AT THE TIME OF CREDIT WHICH EVER IS EARLIER.TDS
RATES ARE CHANGES YEAR TO YEAR.THESE ARE NOT CONSTANT BUT
IN PAST YEAR(2012-2013)10% RATE IS APPLICABLE ON MAJOR
APPLICABLE TRANSACTIONS BUT IN CURRENT YEAR IT IS 12% ON
MAJOR TRANSACTIONS.
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Answer / laxmi reddy
Tds means tax deduction at source witch is deducting while payment made against the creditors
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