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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1913)
 Accounting General interview questions  Accounting General Interview Questions (2841)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4372)
Question
what is the diffrence between tds and vat?
 Question Submitted By :: Taxation
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
TDS is any amount paid by way of
salary,fees,commission,Rent,interest,etc is taxed at the
time of payment by the sourceThis is referred as tax
deducted at source.
VAT is the tax levied to the material in the process of
making the final good or product.Sine tax is levied only on
the value added to the product and not on the whole
material. It is referred to as Value Added tax.
TDS is a direct tax,whereas VAT is an indirect tax.
Some goods are exempted to VAT but there is no exemption to
TDS
 
Is This Answer Correct ?    69 Yes 8 No
Anju Joshi
 
Answer
# 2
TDS is the amount deducted at the payment or salary by
employer or whom will payment made.


value added tax is leived on the goods to sale with in the
state.
 
Is This Answer Correct ?    23 Yes 4 No
Santhosh Kumar
 
 
 
Answer
# 3
tds is a direct tax.and vat is indirect tax. 
Is This Answer Correct ?    24 Yes 5 No
Rahul
 
Answer
# 4
vat is a value added tax and when we purchase and sales any
item then we use VAT vat is like a Sale tax.if the value
added tax were in force than would the value addition of
rs.20/-at the hand of the reseller alone be subjected of tax
if we have to answer the above question on the basis of
first principle of VAT,
tax deducted at source is one of the mode of colecting
income tax the buyer and payer (deductor)deductes tax from
payment mode to the seller payee(deductee)the dedctor then
this tax to the income tax department within the stipluted
time.
 
Is This Answer Correct ?    25 Yes 8 No
Prince Nakwal
 
Answer
# 5
TDS is a direct tax & VAT is a indirect tax 
Is This Answer Correct ?    14 Yes 1 No
Ajay Shinde
 
Answer
# 6
TDS IS A Direct TAX AND VAT IS INDIRECT TAX 
Is This Answer Correct ?    14 Yes 1 No
Animesh Kulshretha
 
Answer
# 7
TDS is The Part Of Amount That deducted on income of
service done that may Salery,rent commision,fees,intrest at
payment time,it is direct taxable on services.
and VAT is part deducted at buy and sale of Goods,and it
is indirect taxable on goods.
 
Is This Answer Correct ?    11 Yes 1 No
Chandrakant
 
Answer
# 8
TDS - Tax deducted At Source.


VAT - Value Added Tax.
 
Is This Answer Correct ?    12 Yes 3 No
Ashish Kr. Dwivedi
 
Answer
# 9
TDS is a direct tax & VAT is a indirect tax.
DS is any amount paid by way of
salary,fees,commission,Rent,interest,etc is taxed at the
time of payment by the sourceThis is referred as tax
deducted at source.
VAT is the tax levied to the material in the process of
making the final good or product.Sine tax is levied only on
the value added to the product and not on the whole
material. It is referred to as Value Added tax.
TDS is a direct tax,whereas VAT is an indirect tax.
Some goods are exempted to VAT but there is no exemption to
TDS
 
Is This Answer Correct ?    10 Yes 2 No
Swatinerkar
 
Answer
# 10
tds is direct tax than this dedected u recipt & payment
above20000rs any source
vat is indirect tax this dedected source after buyer any
thin purchase than purachase amount + vat%
 
Is This Answer Correct ?    12 Yes 5 No
Suresh Haldonia
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
if we are deducting TDS on sodexo .4% means , wht the surcharge & cess in that IonIdea 1
Our firm is 7 years old. We don't have PT registration for partners as well as employee. If we do it now, will it be a problem or how much penalty will come. Any one can give suggestion.   1
how can i(accoutant) file tds,vat,service tax,salestax,business it returns? GMG 2
is the company liable to deduct and pay professional tax for directors?   5
What is the rate of TDS for commission?   7
How to reimburse TDS(Tax Deducted at Source)? I am getting monthly stipend of RS11,500. But still my employer deducting 1300 pm as TDS. They said they will issue form 16A to reimbruss. Please tell me the procedure to get my money back.   3
We issued C for the provisional price first. Again for the payment of Price Variation payment a fresh C form is to be issued?   1
I want to know that can we get input vat credit against tax invoice/retail invoice/& commercial invoices. Our auditor is saying that only tax invoice is libel for vat input credit. But many parties issue us retail invoice & commercial invoice.   2
wct rate & deposit date in all state   1
IF WE PURCHASE MATERIAL FROM OUTSIDE STATE FOR RS 100000 (INCLUDING CST) AGAINST C FORM. AND AFTER ONE MONTH WE ISSUED DEBIT NOTE FOR RS. 30,000 /- TO A SELLER. NOW WHAT AMOUNT WE FILL IN THE C FORM AT THE TIME OF ISSUE, 1,00,000 /- OR 70,000 /-   1
WHAT IS THE ROAD PERMIT I WANT TO SALE IN OUTSIDE OF STATE WHAT IS THE REQUIRD DOCUMENT AND WHY. Hitachi 6
Service tax on rent (immovable property)? Reliance 1
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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