ALLInterview.com :: Home Page            
 Advertise your Business Here     
Browse  |   Placement Papers  |   Company  |   Code Snippets  |   Certifications  |   Visa Questions
Post Question  |   Post Answer  |   My Panel  |   Search  |   Articles  |   Topics  |   ERRORS new
   Refer this Site  Refer This Site to Your Friends  Site Map  Bookmark this Site  Set it as your HomePage  Contact Us     Login  |  Sign Up                      
Google
   
 
Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1906)
 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4371)
Question
Tell me the meaning of VAT (TDS) When it will be applicable?
& rate of VAT TDS
 Question Submitted By :: Taxation
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
Hello,
VAT-TDS applies in the case of works Contact and other
contact: Contactee shall be the eligible person for VAT TDS
deductor and he shall deduct TDS at the rate prescribed in
the State Statue.
IF it is a labour contact no TDS/lower TDS would be
deducted by the contactee depending upon the stete atatue.
 
Is This Answer Correct ?    20 Yes 2 No
Atul Nema
 
Answer
# 2
VAT - Value Added Tax.
VAT is charged on Intra State Sale or Purchase. When we sale
or purchase within a state, then VAT is charged.
The rate of VAT are:-
1% - Gold, Jewelery etc.
5% - Normal Goods.
12.5% - Petrol, Lubricants etc.
20% - Alcoholic Products.
 
Is This Answer Correct ?    22 Yes 12 No
Dhiraj Singh
 
 
 
Answer
# 3
VAT TDS is applicable inthe case of works contract.The rate of VATTDS is as specified in the State Act(tamilnadu-2%). The Contractee is obliged to make the TDS 0n Invoice Amount and he has to deposit the same with the tax authorities online within 15 days from the end of the month in which it was deducted.The Contractor cannot claim the benefit of TDS made by Contractee unless the same was deposited with the appropriate Authorities and need to obtain the TDS certificate from the Contractee along with the challan of such Deposit with his Return. 
Is This Answer Correct ?    4 Yes 0 No
Madhan Mohan
 
Answer
# 4
VAT- value added tax is a system of indirect taxation. it is
the tax paid by the producers, retailers or any other dealer
who add value to the goods and that is ultimately passed on
to the consumer.

TDS- tax collection at source is one of the mode of
collection of income tax. while certain kinds of payment the
payer deducts income tax from the payee and deposit with
income tax authority.
 
Is This Answer Correct ?    2 Yes 8 No
Anchit Saxena
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
how can i(accoutant) file tds,vat,service tax,salestax,business it returns? GMG 2
is it necessary to use form 38 in U.P. for out of state purchase at @5% CST   1
WHO IS SEND C FORM & WHATS MENTIONED THERE   1
Dear friends please let me know, what % of amount has deduct from vendors bill for civil supply and instollation work   3
I'm collecting TDS Certificate from one of our Customer for Ass. Year 2002-03 today and request IT Dept. to allow this as part of rebate to me, will they allow?? What IT Act says on this. Voltas 3
what is the difference between real expense and operating expense?   1
We have received Bills of Aug-2008 for contract charges. I have passed the bills in Dec-2008. So, we will pay intrest on tds or not?   1
what indirect tax and in that whats include   2
what is the meaning of provision for taxation Genpact 2
what is meaning of education cess?and y is it levied?   7
We are purchasing machinery from Mumbai supplier. Deliverable in Jamnagar & invoice is on our name (Maharashtra). Can we issue 'C' form?   4
Form No.27A, I think it is a TDS oriented Form. But for what purpose and why this Form is use?   3
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
Copyright Policy  |  Terms of Service  |  Articles  |  Site Map  |  RSS Site Map  |  Contact Us
   
Copyright 2013  ALLInterview.com.  All Rights Reserved.

ALLInterview.com   ::  KalAajKal.com