Answer Posted / ramya

TDS means Tax Deducted at Source. The concept of TDS was
introduced in the Income Tax Act, 1961, with the objective
of deducting the tax on an income, at the source of income.
It is one of the methods of collecting Income Tax, which
ensures regular flow of income to the Government.

Example:
If a company is making the payment towards Rent to the
owner of the building, it is required to deduct the tax on
the income (i.e. before payment to the owner), at the
source of income.
TDS Process
A seller (Deductee) provides services to the buyer
(Deductor).
The buyer deducts the Tax at the time of payment of
advances or while accounting the Bills
received.
The buyer deposits the deducted amount to the designated
branches of the authorised
bank
The buyer issues Form No.16A to the Deductee
The buyer files annual returns electronically to the
Income Tax department.
The seller files returns, along with Form 16A claiming the
credit of the Tax deducted at
source.

Time & Mode of TDS Payment
All the Tax deducted during a month are to be paid to the
credit of Government on or before
7th of the next month. In case 7th of the month happens to
be a sunday or a bank holiday
payment can be made on the next working day
TDS amount shall be paid to the government account through
any designated branches of
the authorised banks, along with Income Tax Challan No.281.
In case of collections made by or on behalf of the
Government, the amount shall be credited
within the time and in the manner aforesaid without the
production of a challan.

How can i prepare MIS report for Finance?

1979

---

what is the global prameters why are you selecting for the negative posting period allowed, defalult value date,proposed fisal year

2019

---

What Is The Limitation Of Remuneration Allowed If Book Profit Is 375850 In A Business Firm And In A Professional Firm?

1680

---

difference between vat 47 & vat 49

2710

---

sir i'm having exp as a HR-Recruiter, now i'm willing to work in other areas of HR.Is learning of accounting courses such as (Payroll mgmt,TDS, service tax, vat, provident fund, gratuity fund, Tally ERP.9 )is necessary? if so, kindly guide me what all accounting courses i need to study to work in other areas of HR. or what are the qualifications required to work in other areas of HR? 2)one of my friend would like to know the job profile for Finance admin..

1564

---

---

Short Answer on ________Accounts Payables

1519

---

if sale aganst c form interstate sale.when i file the return party not give me c form then give by our company wich type panelty give me detail?

1518

---

what type of a/c these accounts are are tey real, nominal or personal (1)realisation a/c (2)new company a/c(3)equity share holders a/c

1810

---

what is ZBA hold & balance hold in banking?

1820

---

Distinguish capital and revenue expenditure

1620

---

INTE3RNATIONAL ACCOUNTING STD

1797

---

how to maintain E-Commerce companies accounts

987

---

how will you create the posting periods 3 and 5 or 5and 7?

1638

---

Expand DEHM

1486

---

How the sub ledgers(AP, AR) integrate with GL liability and receivable

1538

---