Interested to Buy Any Domain ? << Click Here >> for more details...
whaT is TDS? give the rates. Procedure for preparing the same?
- 1 Answers
- 3648 Views
- I also Faced
- E-Mail Answers
Answer Posted / d. das
TDS or best known Tax Deducted at Source is one of the modes of collecting Income-tax from the assessees in India. This is governed under Indian Income Tax Act, 1961, by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue managed by Indian Revenue Service (IRS), Ministry of Finance, Govt. of India.
There have different percentage for different segment.
e.g. Interest on debentures - 10% HUF/others. etc.
Lottery/cross word puzzle & wining from hirse race-30%HUF/others.
In simple terms, TDS is the amount of tax getting deducted from the person (Employee/Deductee) by the person paying (Employer/Deductor). National Securities Depository Ltd. (NSDL) after having modernised the settlement system in the Indian Capital Market by pioneering scripless settlement is now in the process of establishing a nationwide Tax Information Network (TIN) on behalf of the Income Tax Department (ITD). This is designed to make the tax administration more effective, furnishing of returns convenient, reduce compliance cost and bring greater transparency.
NSDL will be the primary agency responsible for the design, implementation and maintenance of TIN as per the requirements of ITD.
[edit]
Contract - HUF/IND-1%, & Others - 2%
Insurance Commission - 10% HUF/Others.
Rent for Land & Building - 10% HUF & Others.
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
In wct limit is Rs.5lac if vendor provide bill below 5lac wct will applicable or it aggregate I need deduction of wct 5lac slap
HOW THE INTEREST WILL BE CALCULATED IF WE MAKE INCOME TAX RETURNS LATE AND WHAT IS MEANT BY YEAR END?
WHEN I AM DOING 1ST TIME VAT RETURN E-FILLING, WHAT IS PROCESS FOLLOW HOW GET E-RETURN FILLING PERMISSION HOW APPLY FOR GET THE USER I.D & PASSWORD FOR E-RETURN FILLING IF ELSE, PLEASE GIVE ME THE RIGHT ANSWER ON MY E-MAIL ADDRESS ON sonidilip87@yahoo.com
What is the WCT percentage under which the amount is being deducted in Punjab. Under what Notification and dated when???????????. Serious Senor I need the answer other wise I would not have posed this question; Please send the answer to the mail address.
type of sale and purchase tax?
How To Calculate Gross Sales for vat return -15
WHAT IS CORPORATE TAX ?
How to calculate the TDS
what is the circle of tds and its rate chart
How do you determine as to what TDS has to be deducted from each vendor supplying us the goods and doing labour work?
What is US Tax Accounts? Can I get any information where from I take full knowledge about US Taxation?
how much TDS required in telecommunication services ? Any types of Telecommunication, provider or services receiver
Can you please provide me the present VAT precentages in Andhra pradesh and other states CST persentages with good's wise.
WHAT IS TDS?SHOULD WE FILE TDS TO PURCHASE A THING .SHOULD WE PAY BOTH TDS &TCS FOR THE SAME THING
What we mean by MAT Credit Entitlement ???
