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Categories >> Accounting >> Accounting General
 
 


 

 
 Audit interview questions  Audit Interview Questions (427)
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 Accounting General interview questions  Accounting General Interview Questions (2808)
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Question
What is the Difference Between Income Tax and TDS ?
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
Income Tax follows 1961 Income Tax Act, TDS i.e., tax
deducted at source is a main tool of income tax. It
consists varieties section which's been written in IT Act.
 
Is This Answer Correct ?    7 Yes 1 No
Debasish Podder
 
Answer
# 2
income tax is wider term means it is an act 1961 under the
central board of direct tax act & the tds( tax deducted at
source) is a tax which paid by an employees from his
salary to the employer & the employer will deposite the
amount of tax ( tds) to the income tax department
 
Is This Answer Correct ?    1 Yes 0 No
Sachin Pathak
 
 
 
Answer
# 3
Income tax is statutory payment against Income chargable by
income tax act 1961 by an assessee. TDS is a deduction from
his income at a specific rate as per rule of income tax act
and this deduction will be adjust from the actual tax
payable by the assessee against incmme at the time of
filling of return. Likely to say that TDS likea provision.
If the tds is greater than tax then balance will be
recoverable and vice versa.
 
Is This Answer Correct ?    1 Yes 0 No
Saikat
 
Answer
# 4
sharma ji, too many question?

kindly read any +1, or +2 accounting book. or any general
accounting book.
 
Is This Answer Correct ?    1 Yes 9 No
Dinesh
 

 
 
 
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  Question Asked @ Answers
 
6, state with reasons wheather the following items are capital expenditure or revenue expenditure i, A factory building was constructed at a cost rs 1500000 a sum of rs 64000 were incurred for the construction of huts for storing building materials ii, rs 5000 paid for removal of stock to a new site iii, expenses incurred in connection with obtaining a license to start the business were rs 15000   1
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