Interested to Buy Any Domain ? << Click Here >> for more details...
What diffrance between TDS & TCS.
- 2 Answers
- 6001 Views
- AG Industries, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / tax beginner
Hi
TDS - Tax Deducted at Source
In simplest terms
This is the amount that a company deducts while making
payments. E.g. Vandor payments ,Salary payments for Staff
(to name a few). The company has the obligation to remit
this amount to Government on behalf of vendors,employees
etc.
TCS - Tax collected at Source
In some transactions the Remittance to Government becomes
the responsibilty of the Seller, e.g. Scrap Sale in this
case the Co. collects Tax from Buyer and remits to
Government.
| Is This Answer Correct ? | 10 Yes | 0 No |
Answer / mayank
Tds -Tax deduction at source
tcs -Tac collection at source.
| Is This Answer Correct ? | 8 Yes | 3 No |
why is service tax recievable shown as dr balance under liability in b/s
What slab of Income Tax on till date.How many limit of investment for Indvidual.
What is the meaning & definition of "THRESHHOLD LIMIT" in TDS?
What are the new threshold limits put in the parliment under New tax code recently for Men, Women and Senior Citizens
What is service tax?how deduct service tax?
It means we have to pay all amount of TDS of 6 months in next month.... m i correct?
Can anyone please tell me how to account TDS RECEIVABLES. (In Receipt entry is it possible to show the break up of TDS deducted & balance payment recd in single entry
In TDS Challan, i had written the TAN No of my company wrongly and i file it to the Govt. what can i do now? is there any problem reg this? wat is my next step? shall i give any letter to TDS Circle in this regarding? how can i approach them? Kindly help me immdly with the procedure.
We are a UK company selling electronic s/w licenses to customer in India. We have a PAN Number. Why is TDS being deducted on a product? Why is TDS calculated on the invoice value - surely it is supposed to be on Income and not Turnover? What is the correct TDS % deduction?
how to calculate cst. give me example
A cement product which MRP value is Rs. 280. Now how it calculate the Basic Excise on MRP or my Selliing value from factory?
We have recd. work contract at Karnataka, now i want to know what is the WCT tax structure in Karnataka under regular Method and composition method, Is there Interstate purchase & Branch stock transfer allowed under composition scheme? How to calculate VAT liability under Regular Method and composition method. Which scheme is beneficial for us?
Audit 
