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what is TDS pls give me the best answer
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Answer / rajesh
TDS is Tax Deducted at Source. This means any amount
crosses the prescribed limit given by Income Tax authority
the concern person will deduct the tax amount from your
payable amount. this is called TDS . for this they will
issue Form 16
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / u mastan vali
TDS is Tax Deducted at Source. This means any amount
crosses the prescribed limit given by Income Tax authority
the concern person will deduct the tax amount from your
payable amount.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / triloksharma71
TDS means Tax deduction at source.
It is the tax levied by the government.
If the assesse arises any of the source of income from the
below heads
Income from salary
Income from business
Income from capital gain
Income from other sources
Tax is Levied
For example if the assesse had earned income from the above
heads in year 2007-08. He has to pay tax in the year 2008-
09, but TDS should be deducted in year 2007-08 it-self .It
should be deposited with in 7 days in the next
month.Monthly return should be filed.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / deepak tiwari
Nothing is as tangled and knotty as the TDS provisons. While
some TDS rates are specified in the individual section which
deal with the tax treatment of the particular stream of
income, some rates are included as part of a separate
schedule. To make matters worse, these rates get tampered
and modified every year. This result in so much chaos and
confusion, that sometimes those who have to apply TDS, do
not have a clue about what rate to use. Imagine the plight
of tax payer.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / rajadurai
if you open one deposit for some amount in bank,that bank
will give some interest for that deposit amt.
so that customer who opened the deposit will get some gain
through that deposit.
so, concern authority person will deduct tax from that
deposit amt.there is one way to waive the tax through form
16.
| Is This Answer Correct ? | 0 Yes | 3 No |
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