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what is the diffrence between tds and vat?
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Answer Posted / dinesh
Full form of TDS is tax deduction source it is the tax which
is deducted for the parties by company and it is a expense
for company.
Full form of TCS is tax collection source it is the tax
which have to be collected by company from other's and it is
a income for the company.
If VAT is charged means physical material is supplied so there is no TDS to be deducted. but if any amount is charged for works contract that is charges for any work done than TDS to be deduct on that amount
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