what is the differnce between income tax and tax deducted at
source?
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Answer / tapan kumar roy
INCOME TAX WHICH WILL PAY AGAINST YOUR INCOME i,e INCOME---TAX.INCOME TAX DEPOSITED AGAINST YOUR PAN NO.
TDS TAX DEDUCTED AT SOURCE WHICH IS ANYONE EARNED FROM YOU AND YOU WILL DEDUCTED A PERCENTAGE FROM HIS INCOME AND THE AMOUNT WILL DEPOSITED AGAINST HIS PAN NO.
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Answer / manikanta r
Income Tax is Which a assesse will pay over at the end of the financial year for over all income earned by him during the previous year
Tax deducted at source is a tax levied on your income, the payer will deduct the Tax before paying to the receiver and the same will be paid to the Govt behalf of the receiver
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My income for the current year from Hiring Earth Moving Vehicle to a contractor will be 250000/-my total savings are 125000,payment of my childrens tution fees will be 35000 So mine will be below taxable income .Pl let me know whether there is any chance to escape from TDS obligation.If so Pl let me know the procedure
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