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Wat is TDS?give full information on that topic.
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Answer Posted / jitender sharma
TDS is an Direct Tax because it is charged on our income or wealth. It is deduct by the payee or the person who paid the expenses. And every person is not eligible to deduct TDS. The govt. had decide the bench mark for that.
If any Business's turnover exceeds the amount Rs.60,00,000. and if the person involves in any profession then its total Receipts must exceeds Rs.15,00,000.
The person comes in this criteria must deduct TDS and paid to the Govt.
| Is This Answer Correct ? | 12 Yes | 5 No |
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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.
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