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 Audit interview questions  Audit Interview Questions
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 Accounting AllOther interview questions  Accounting AllOther Interview Questions
Question
What is TDS
 Question Submitted By :: Manoj
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What is TDS
Answer
# 1
tds stands for tax deducted at sorce... it is the tax that 
an assessee has to pay at the time of earning an income.. 
it is different from tax paid at the time or filing return 
since it is paid in the previous year itself...
 
Is This Answer Correct ?    78 Yes 19 No
Nimish Bhatia
 
  Re: What is TDS
Answer
# 2
TDS stands for Tax deducted at source. Any income payable  
to the assessee shall be liable for deduction of tax at 
source by the person responsible for making payment. TDS is 
deducted at prescribed rate as per the Finance Act of that 
year.
 
Is This Answer Correct ?    61 Yes 12 No
Vijay Gawalkar
 
 
 
  Re: What is TDS
Answer
# 3
TDS is deducted at prescribed rate as per the finance act 
of that year standards for tax deducted source.
 
Is This Answer Correct ?    23 Yes 15 No
Murali Krishna
 
  Re: What is TDS
Answer
# 4
TDS 
TDS IS TAX DEDUCTED AT SOURCE 
 IT IS DEDUTED BY COMPANY
 
Is This Answer Correct ?    24 Yes 19 No
Vasant
 
  Re: What is TDS
Answer
# 5
TDS Means Tax Deducted at Source, salary TDS means, whoever
will get more than 10000 salary per month, they will come
under the slab (Salary TDS) TDS will charged, Nature of
Payment and it will be in different SECTION
 
Is This Answer Correct ?    17 Yes 10 No
Sravanthi
 
  Re: What is TDS
Answer
# 6
TDS is one of themodes of ecovery of Income Tax.The 
provisions relating to TDS not only help catch more and 
more pepole in the tax. The provisions relating to TDS not 
only help catch more and more pepole in tax net but they 
also ensure true and full disclosure of income in the tax 
return.
 
Is This Answer Correct ?    10 Yes 6 No
Pratidnya Mundada
 
  Re: What is TDS
Answer
# 7
TDS Means Tax Deducted at Source, salary TDS means, whoever
will get more than 10000 salary per month, they will come
under the slab (Salary TDS) TDS will charged, Nature of
Payment and it will be in different SECTION
 
Is This Answer Correct ?    16 Yes 6 No
Vitesh Tandel
 
  Re: What is TDS
Answer
# 8
TDS means Tax Deducted at Source
 
Is This Answer Correct ?    17 Yes 4 No
Prasad
 
  Re: What is TDS
Answer
# 9
TDS Means Tax Deducted at source.In this  emoployee tax 
will pay employer after taht employer pay the salary to his 
employee so it  means after deduction of tax employer pay 
the salary to  employee.
 
Is This Answer Correct ?    6 Yes 9 No
Srinivas
 
  Re: What is TDS
Answer
# 10
Dear Sir,

What is the TDS rules, How we will charge TDS on Services.
 
Is This Answer Correct ?    13 Yes 6 No
Sachin Kumar
 
  Re: What is TDS
Answer
# 11
TDS (Tax Deducted at source) is the amount which is 
deducted by anybody (Individual/Firm/Organisation) who is 
having a valid TAN No. and have a valid contract with the 
assesse as per the rates defined by the finance ministry 
and the amount is being credited in govt. a/c by the tax 
deductor and issue a TDS certifiacte to the assesse
 
Is This Answer Correct ?    12 Yes 5 No
Saurabh
 
  Re: What is TDS
Answer
# 12
Tds means tax deducted at source. It is the amount deducted 
by person who incurred expense.Income receiver will get net 
income. while filing his return he should submit hid tds 
certificate that he had got income after deduction of tds
 
Is This Answer Correct ?    5 Yes 5 No
Hemanth
 
  Re: What is TDS
Answer
# 13
The Tax which is deducted by company from thier employees 
salary or their internal and external publics for accepting 
services from them but it is different from other taxes.
 
Is This Answer Correct ?    3 Yes 9 No
Pramod D. Patil
 
  Re: What is TDS
Answer
# 14
TDS stands for Tax Deducted at sources.  In salary case, 
Tax is deducted by the employer for his emplyees's salary 
at the rate provided by the Act.
 
Is This Answer Correct ?    9 Yes 3 No
Chinnadurai
 
  Re: What is TDS
Answer
# 15
TDS (Tax deducted at source) as it is popularly known as is 
the process in which the payer makes reduced payment to the 
receiver of money. The amount that was so reduced is the 
TDS. The rate of deduction is contained in the Schedule III 
of the Finance Act issued by the Government of India.
 
Is This Answer Correct ?    8 Yes 4 No
R.k.das
 
  Re: What is TDS
Answer
# 16
what is the amount of tds new appalication submitted for 
tan no.
 
Is This Answer Correct ?    4 Yes 7 No
Ashok Aditya
 
  Re: What is TDS
Answer
# 17
TDS Mean's "Tax Deducted At Source".
It's reponsibility of a person who paid the salary or other 
which included in TDS categary.
TDS deducted dy deductee at the time of payment for tds 
issued form16&16A by NSDL(National Security Depository Ltd.)
 
Is This Answer Correct ?    6 Yes 6 No
Pawan Pandey
 
  Re: What is TDS
Answer
# 18
TDS (Tax Deducted at source) is the amount which is 
deducted by anybody (Individual/Firm/Organisation) who is 
having a id contract with the assesse as per the rates 
defined by the finance ministry and the amount is being 
credited in govt. a/c by the tax deductor and issue a TDS 
certifiacte to the assesse
 
Is This Answer Correct ?    2 Yes 6 No
Ajay Patel
 
  Re: What is TDS
Answer
# 19
Tds means tax dected at sorce
 
Is This Answer Correct ?    5 Yes 7 No
C.r.p.reddy
 
  Re: What is TDS
Answer
# 20
TDS is statutory obligation improved by Income Tax Laws on 
each partnership firm/ Company.
The main motive of Govt. is to collect Income Tax at the 
origin itself when payment is being made or expense bill is 
accounted for (whichever is earlier).
TDS is applicable on various types of transactions viz. 
Interest,Payment to Contractors,payment to 
Consultants,Payment of Rent,Payment to Employees etc.
The rate of TDS varies for each of the above categories and 
the rate of TDS also varies on the constitution of the 
party we are dealing with (Corporate/ Non-corporate).
Further, TDS is liable to be deducted only when the amount 
of payment exceeds minimum limit for TDS category in one 
accounting year. Further in order to reduce hardship on 
smaller contractors a provision is made under Income Tax 
rules to levy reduced TDS rate for certain period on due 
authorized letter.
 
Is This Answer Correct ?    4 Yes 7 No
Mohan
 
  Re: What is TDS
Answer
# 21
Tds means tax deducted at source. It is the amount deducted 
by person who incurred expense.Income receiver will get net 
income. while filing his return he should submit hid tds 
certificate that he had got income after deduction of tds

tds stands for tax deducted at sorce... it is the tax that 
an assessee has to pay at the time of earning an income.. 
it is different from tax paid at the time or filing return 
since it is paid in the previous year itself
 
Is This Answer Correct ?    7 Yes 4 No
Gani Ali Raza
 
  Re: What is TDS
Answer
# 22
TDS refers to Tax Deducted At Source.It is the tax 
generally deducted at the source from where the income is 
generated, by the Principa/Employer who is responsible for 
making the payment.It doesn`t relieve the Employee/Person 
receving such income from tax payment on such 
income.However,the employee will get the TDS credit.
 
Is This Answer Correct ?    6 Yes 4 No
Sansar
 
  Re: What is TDS
Answer
# 23
tds is the tax to be deducted on the extra income earned 
other than the regular one
 
Is This Answer Correct ?    3 Yes 8 No
Setu
 
  Re: What is TDS
Answer
# 24
tds is tax deducted at sources 

an employer deduct the tax from his payment. the payment 
mayb be a salary, contract, consultation fees. the payment 
should above Rs.10,000/-
 
Is This Answer Correct ?    6 Yes 5 No
Anand
 
  Re: What is TDS
Answer
# 25
hi
tds is tax deduction at source
 
Is This Answer Correct ?    5 Yes 6 No
Ravi
 

 
 
 
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