What is means by TDS ? How to calculate TDS ? TDS Form No. ?
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Answer Posted / bhavani bv
Hi,
Tax deducted at source means tax payable to government for
the service recieved from your vendor, you will deduct on
behalf of your vendor and make payment to government no his
companies name at the end of the year you will give your
vendor FORM 16A which will contain the acknoweldgement
reciept number with the detail of amount paid.
Then to calculate tds it depends up on the service recieved
if it is contractor 2%, Profeesional fee 10%, Rent 10%.
Salary as per slab ,First you have to catageorie under
which the expenses will fall then the tds rate is
applicable.
TDS form No to remit the company tds is ITNS 281 it has to
be remited every month before 7th.
I hope this will make you feel clear
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