Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / sugumar
TDS is tax deducted at source. Tax at the applicable rate
is to be deducted form the salary by the employer at the
time of paying/crediting the salary. The employer will give
a Tax Deduction certificate at the end of the financial
year and the employee can claim this deduction through his
income tax return for the year.Also, in case of contract or
service provided by anyone to another, above a certain
amount, tax is to be deducted at the applicable rate which
are different for different types of payment. The payer of
the bill will give a tax deduction certificate in the
prescribed form to the latter to claim in his tax return.
The person who deducts tax has to deposit the tax with the
govt. treasury or authorised banks. A quarterly return has
to be filed with the appropriate authorities, of the tax
deducted. Penalty for not filing the return is Rs. 100/-
per day of delay.See income Tax Act and rules
| Is This Answer Correct ? | 5 Yes | 1 No |
Post New Answer View All Answers
what is the steel consumption per sq ft for ground plus 12 floors
can external audit be seen as merely an overhead cost adding no value to the orgnisation
whta is the current SBAR? Please provide the past rates from 1st january 2011 to till date.
What are documents need to vouch while doing sales vauching?
What is an internal audit?
What was your most rewarding accomplishment of your career and why
Explain the before an audit processes?
What is CARO 2003? What do you mean by management audit?
Explain the difference between internal audit and external audit?
Explain different functions of internal audit?
i have to finalize a mineral water co. for the year 2014-15 and i want to know that what will be rate of excise duty on sale of mineral water.
What is pr ? why it is prepared and what is its purpose ? who is responsible for preparing it ? And on any fault in it who is liable ? And what will happen if fault comes ?And What are major reasons of fault ?
How to do an internal audit effectively?
What is the mean of decommission liability?
Explain the basic principles of an internal audit controlsystem?
