Answer / soundar

TCS means Tax Collected at source .i.e. While raising
Invoice for Sale of Scraps, Waste etc we have to collect
Tax thro' Invoice and we have to remit the Central Govt. as
like TDS

P.s. Mr Ramesh TDS is entirely diffrent from TCS
TDS to be collected at the time of Payment / Accounting
TCS is to be collected from the sale Invoice on Scraps,
Waste etc

Answer / bhupinder singh

Tax Collection at Source means, we have to deduct tax on
sale of scrap or waste material of the concern and
deposited/credited to the Central Govt. before 7th of each
month or quarter according to the case

Answer / arnab

sounder is correct
arnab

Answer / ramesh

TDS IS DEDUCTED ON VARIOUS HEADS PAYMENT LIKE INTEREST ,
CONTRACT, RENT, PROFESSIONAL FEES,CONSULTANCY
FEES,COMMISSION & BROKERAGE,ETC., ON MAKING OF PAYMENTS TDS
TO BE DEDUCTED AND REMITTED TO THE CREDIT OF CENTRAL GOVT.

what are indirect taxes

2 Answers  

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Dear Experts, I need your help in deriving a formula for calculating three taxes with a combination of cumulative and inclusive tax. Here are the examples with expected result. Please let me know the formula on how to get the given result. Example1: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and there is no cumulative of Tax1, Tax2 Expected Results are: Tax1=76.34 Tax2=83.97 Tax3=76.34 Let me know formula to derive above values? Example2: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and cumulative of Tax2 Expected Results are: Tax1=75.70 Tax2=83.27 Tax3=84.03 Please let me know formula to derive above values? Thanks in advance.

0 Answers   ABC,

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Our Factory in Gurgaon(Hrayana) & our another Branch(Shop)in Delhi.we are stock transfer factory to branch so what form we used & why.Please send me my mail id-rabinayak30@yahho.co.in Thanks(RABI)

2 Answers  

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Sir please confirm job work sale for clothes shat d1 yes & no

0 Answers  

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I made donation which is covered u/s 35 (1)(ii)

3 Answers  

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Tell me the meaning of VAT (TDS) When it will be applicable? & rate of VAT TDS

6 Answers   Gherzi Eastern, HCL,

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IS THERE ANY TDS APPLICABLE ON AMC OF AC MACHINE

1 Answers   Capital IQ,

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WHETHER IN RETAIL INVOICE IS IT NECESSARY TO SHOW TAX PERCENTAGE OR NOT.

2 Answers   Genpact, KFCSC,

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When we make payment of custom duty through DEPB Licence against Import.we are a trading Unit. Can we pass on the 100% modvat to manufacturer as per mentioned in Bill of entry.

1 Answers  

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What is the difference between excise & service tax?

0 Answers  

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if you write asessment year in place of financial year in it return , then what will happen?

0 Answers  

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i working chemical manufactoring company ,i purchase of raw materials for finished good that year was no sales that input is applicable or not , that input carry forward to next financial year it is possible or not

2 Answers  

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