what is tds and why its charged on pament or receipt
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Answer / anil sharma (jindal poly films
TDS is liability of payee and it is applicable at the time
of accrud basis or actual payment whatever is earlier. As
per Income Tax Act, 1961 TDS is applicable on different
payments with different rates.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / d.naveen
TDS Means Tax Deducted @ Source. it is applicable for
payments olny certin expenses eligable for the TDS aspects
ex,. RENT - when exceed the Rs.10000/- P.a, Interest -
Rs.5000/- above and Commission - Above 5000/-. above all
the items are profit decreas items so I.T impliment the act
for T.D.S whatever u pay the payments u will deduct the
some amount that will be collect to me .
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / veer
tds is an advance tax which we deduct in advance basis but
on salary it is deduct on actual basis.
| Is This Answer Correct ? | 3 Yes | 3 No |
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Give details about TDS and its applicapable rates of latest year.
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