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Answer Posted / manish.panchal
TDS is Tax Deducted at Source. This is the Tax Deducted and
paid to govertment by your client/customer.
TCS is Tax collected at Source. This is to be paid by
yourself only as this i self means TAX COLLECTED AT SOURCE.
you need to pay in challan No. 281 with respective rate of
TDS or else you have to pay on your net profit or while
calculationg advance tax.
Both of above should be determine while finalizing accounts.
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1. Why some companies are not deducting the TDS or WCT on their clients Invoice.,? 2. How companies are getting exemption from Deduction TDS or WCT. ?. 3. What are the procedure for not to deduct the TDS or WCT on client invoice while making payment for their Invoice.?.
What is supporting documents enclosed & must be required to Submit of quarterly & Yearly Sale Tax Return (Haryana)
If any body have knowledge for vacate position for the post of Accountant kindly mail me verma_moti@yahoo.co.in (handling Accounting upto finalisation,Sales tax/vat,TDS,Service Tax,Excise tax and MIS.
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