What is TDS
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Answer / r.umashankari
Actually its not Question it's a small doubt Whether TDS is
for claiming purpose or tax filing purpose.
tds is deducted from party , can party can claim that one.
| Is This Answer Correct ? | 12 Yes | 5 No |
Answer / jitendra sahu
TDS (Tax Deducted at Source)
Which is deductiable while making payment to any contractor
for service rendered by an assese(COmpany or firm) any by
Individual assesse (If turnover exceeds 40 lakhs for
business or 10 lakhs for profession in the previous year
immidiately preceeding the financial year).
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / arun dalmia
TDS(Tax deducted at source) is the advance tax paid or
deposited by the person incurring expenses on behalf of the
Asseessee providing services.The credit of TDS is claimed
in the same assessment year on furnishing of TDS
certificate given by the tax deducter.
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / mohan jadhav
Tax deducted at Source. tds is to be deducted by service
receiver from Payment of service providers. deductee will
get net payment after dedcting tds. deductor will provide
certificate of tax deduction.
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / yatender
Tds means tax deducted at source.IT IS deducted by company
accountant in company expense.
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / divya aggarwal
TDS is Tax Deducted at Source
Assessee pays tax in the assessment year on the income
earned in previous
year. Due to this rule the tax collection is delayed till
the completion of the
previous year. Even sometimes people conceal there income
and the tax is not
paid at all. In order to overcome these problems,
government started deducted
some amount of tax from the amount which is receivable by
the assessee. The
amount of tax so deducted is called as “Tax Deducted at
Source”
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / mohammed dilaawez
TDS Stands for Tax Deducted At Source. It is the payment
deducted by the Individuals, Firms Company or any body who
is making some kind of payment in respect services recd. It
is the duty of the deductor to Deduct the precise
prescribed rate of Tax as per Income Tax Act deposit the
same to the Central Government
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / sunil bankar
TDS( Tax Deducted at Source ): TDS is one on the mode of
collection Income Tax. While making certain kinds of
payment, the payer deducts Income Tax from the payee &
deposits with Income Tax authority. The payer
(Deducter),later on issues a certificate to the payee
(Deductee),in respect of deduction of deposits to the
Govt.. The TDS certificate is then treated as advance
payment of Income Tax by the Deductee.
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / shravan kumar
original tds comes under income tax act 1961, tds is a
amount deducted from payment amount may be salary ,
professional ,consultation fees ,rent ,contract ect ,the
deduction depends on precentage finalized by the finance
ministry in the house ,the percentage may differ from year
to year and tds is collected in quarterly ,for employee it
depends on slab rates determined by the finance
ministry ,when we apply the returns by filling form no. 26Q
for resident of india and form no.27Q for NRI we can refund
some amout from that .
| Is This Answer Correct ? | 5 Yes | 0 No |
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