hi,i want to kow the difference between withholding tax and
service tax.what is the procedure of calclation of the
two.please help.its urgent.
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Tax Deduction at Source (TDS) under any Tax law is also
referred to as withholding tax in some countries. In India
it's mostly referred to TDS under Income Tax Act, 1961. Tax
shall be deducted at source of payment (Either at the time
of credit to the payee's a/c or at the time of payment
whichever is earlier) at the rates prescribed in the Act
under various sections for different nature of payments -
For abstract details, refer Income Tax Ready Reckoner.
Service tax is leaved on the specified services at the
specified rates in the Service tax Act - For more
information refer Service Tax Act.
Both these taxes are payable to the Central Government in
India, by means of prescribed challans.
Is This Answer Correct ? | 10 Yes | 1 No |
what is the incometax
We have purchased staples Item & vendor charged freight in his invoice.should we deduct TDS on freight charges by vendor?
i am vasan , how to exampt tds .if am below 140000/-
what is excise duty tax
what is the rate of exices in haryana
what is the rates of depriciations for the year 2008-09 and how it is calculat?explain the methods of depriciations counting in asstes?
While depositing cash at any bank above then Rs 50K, we need to provide PAN Card or we have to fill form 60, but tell me why a person needs to sign FORM 60 if he is paying installments of >50K of Loan availed by him/her earlier? As if he is repaying Loan, not depositing in his A/c?
Which form we use for depositing Service Tax
What is form c & d in sales tax?
i m geting gross 12250.m i liable for tds ? if s then how much it will take?
Explain long term capital gains and how is it different from short term capital gains?
please explain me in brifly how to file monthly TDS challan for a company? e.g. if i deduct tds from all various bills of contractor in a month so this all total tds amount credit towards tds account?
1 Answers Overnite Express, Spectrum Engineers,