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what is the diffrence between tds and vat?
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Answer Posted / vaishali kulkarni
tax deducted at sources is deducted from income of
employee/worker which is due for limited period but value
added tax is charge only this scenario purchase or sale of
material & charged on assessable value of this product . one
important thing is that VAT is indirect tax bcoz it is not
business related exp. but TDS is business related exp thats
why TDS is direct tax .
TDS is transfer to the tax authority by the employer
which is automatically deducted from income tax
A value added tax (VAT) is a form of consumption tax.
From the perspective of the buyer, it is a tax on the
purchase price. From that of the seller, it is a tax only on
the value added to a product, material, or service, from an
accounting point of view, by this stage of its manufacture
or distribution
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