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Wat is TDS?give full information on that topic.
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Answer / guest
tax deduction source , it is deducted on salaries, contract
work done, and also on professions or commissions
| Is This Answer Correct ? | 188 Yes | 13 No |
Answer / pawan lodh
tds is tax deducted at source, it is deductible only when
deductor makes payment to deductee,
there are many types of tds
1 u/s 194 a intrest
1 u/s 192 salaries & so may u can check it out on
national website of income tax i.e. incometaxindia.gov.in
| Is This Answer Correct ? | 94 Yes | 8 No |
TDS is an indirect tax. it is the tax decucted at sources
(payment) by the payer and the same amount is remuted to
the government(IT Department)
payer(deducter)-The person who deduct tax and pay to
government is known as deducter. Deducter includes any
person (sec 2(31)) person ,INdividual, Huf, Body of
individuals etc and also includes government.
payee-(deductee) The person from whose income tax is
deducted is known as deductee.
following are the payments from which tax is deducted :
salary, interest on securities,interest on bank deposists
interest on post office deposist, comission, lottory
tickts, dividents on shares, horse rates income contract or
subcontract fees , Insurance comisson,rent, profession or
techniacal.
| Is This Answer Correct ? | 59 Yes | 9 No |
pls mail to me for more information & tds chart 2008-09
F.Y.
| Is This Answer Correct ? | 24 Yes | 9 No |
Answer / bhargava arun
tds is a indirect tax,which is deducted fron salary,
interest on fixed deposit ,commission, commission on
securities and dividend. one who pay tds know as a deducter
and one who payment tds is known as a deductee.
| Is This Answer Correct ? | 22 Yes | 8 No |
Answer / deepak salokhe
tsd is one kind of indirect tx collected by the govt.. This
is governed under Indian Income Tax Act, 1961, by the
Central Board for Direct Taxes (CBDT) and is part of the
Department of Revenue managed by Indian Revenue Service
(IRS), under the Ministry of Finance, Govt. of India.In
simple terms, TDS is the tax getting deducted from the
person receiving the amount (Employee/Deductee) by the
person paying such amount (Employer/Deductor). This is
applicable for certain types of payments, as applicable
under the Act.The word "TDS" stands for Tax Deducted at
Source. In India, TDS is deducted from various sources like
salaries (Section 192) , interest on securities (Section
193), dividends (section 194), interest other
than "interest on securities" (Section 194A); winnings from
lotteries/crossword puzzles/card games (Section 194B),
winnings from horse races (Section 194BB), payments to
contractors/sub-contractors (Section 194C), insurance
commission (Section 194D), payment out of deposits under
National Savings Scheme (194EE) or on account of repurchase
of units referred to in Section 80CCB (Section
194EE/Section 194F), commission/brokerage (section 194H),
commission on sale of lottery tickets (Section 194G), rent
(Section 194I), professional/technical fees (Section 194J),
etc.
| Is This Answer Correct ? | 15 Yes | 2 No |
Answer / samir inamdar
# 3
TDS is an indirect tax. it is the tax decucted at sources
(payment) by the payer and the same amount is remuted to
the government(IT Department)
payer(deducter)-The person who deduct tax and pay to
government is known as deducter. Deducter includes any
person (sec 2(31)) person ,INdividual, Huf, Body of
individuals etc and also includes government.
payee-(deductee) The person from whose income tax is
deducted is known as deductee.
following are the payments from which tax is deducted :
salary, interest on securities,interest on bank deposists
interest on post office deposist, comission, lottory
tickts, dividents on shares, horse rates income contract or
subcontract fees , Insurance comisson,rent, profession or
techniacal.
| Is This Answer Correct ? | 14 Yes | 3 No |
Answer / jitender sharma
TDS is an Direct Tax because it is charged on our income or wealth. It is deduct by the payee or the person who paid the expenses. And every person is not eligible to deduct TDS. The govt. had decide the bench mark for that.
If any Business's turnover exceeds the amount Rs.60,00,000. and if the person involves in any profession then its total Receipts must exceeds Rs.15,00,000.
The person comes in this criteria must deduct TDS and paid to the Govt.
| Is This Answer Correct ? | 12 Yes | 5 No |
Answer / mahi
TDS IS AN ONE TYPE OF INDIRECT TA DEDUCTED BY THE PAYER
BEFORE THE PAYMENT MADE TO ANY PERSON[U/S 2(31)] IN RESPECT
OF WORK DONE BY HIM
| Is This Answer Correct ? | 8 Yes | 3 No |
Answer / viraaj
simply TDS charged on all the payments & expenses according to sections.
| Is This Answer Correct ? | 1 Yes | 0 No |
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