What is TDS? Please explain rate of TDS.
Answers were Sorted based on User's Feedback
Answer / kamal
TDS MEANS TAX DEDUCTED AT SOURCES. THAT MEANS TAX SHOULD BE
DEDUCTED ON THE INCOME OF THE ASSEASSEE AT THE TIME OF
PAYMENT OR AT THE TIME OF CREDIT WHICH EVER IS EARLIER.
Is This Answer Correct ? | 127 Yes | 9 No |
Answer / amit kumar sharma
TDS means Tax Deducted At Source. when the payment made to
creditors against bills , at that time the company deducted
the tax on the total bill value called TDS. Rate of TDS is
varied on type of creditors. If the creditors is sub
contractor , TDS rate is 1% like that.
Is This Answer Correct ? | 83 Yes | 28 No |
Answer / g.siva raju
TDS MEANS TAX DEDUCTED AT SOURCES. THAT MEANS TAX SHOULD BE
DEDUCTED ON THE INCOME OF THE ASSEASSEE AT THE TIME OF
PAYMENT OR AT THE TIME OF CREDIT WHICH EVER IS EARLIER.THE
SAME HAS TO BE DEPOSITED WITH THE GOVT. A/C.ON OR BEFORE
7TH DAY OF THE NEXT MONTH,OTHER WISE THE EMPLOYER/DEDUCTOR
HAS TO FACE PHENALTIES, INTERESTS ETC. AND TO DEDUCT THIS
TDS FROM HIS EMPLOYEES & CONSTOMERS THE COMPANY SHOULD HAVE
THE TAN (TAX DEDUCTION ACCOUNT NUMBER). THIS IS MANDATORY
VIDE INCOME TAX RULES 206C OF INCOME TAX ACT 1961.THW TDS
RATES ARE DIFFERENT FROM EACH OTHER BASED ON THE NATURE OF
TRANSACTIONS & TURNOVER VALUES.
Is This Answer Correct ? | 62 Yes | 8 No |
Answer / fairuz
TDS MEANS TAX DEDUCTED AT SOURCES. THE TDS RATES ARE
DIFFERENT FROM EACH OTHER BASED ON THE NATURE OF
TRANSACTIONS & TURNOVER VALUES.(TDS COLLECTED PARTTY
COTRACTERSE ONLY)
Is This Answer Correct ? | 24 Yes | 5 No |
Answer / rajni
TDS- Tax Deducted at Sources . tds rates are classified for
nature of transaction [payment]
Like...............
payment to Contractor & sub contractor -1.03%
Payment to technical fees -10.30%
payment to Landlord [Rent]-15.45%
etc
Is This Answer Correct ? | 22 Yes | 5 No |
Answer / shashi
Tds means tax deducted at source. at the time of payment of
due it will be deduct from the creditor . the rate of tds
is depend upon the nature of payment
Is This Answer Correct ? | 18 Yes | 3 No |
Answer / saurabh kumar sharma
tds means tax deducted at source. Tax deducted depend on
nature that what nature of business as example:
that advertisment is releted tds 1.133% but this time is 1%
only tax without surcharges and educess.
Is This Answer Correct ? | 11 Yes | 2 No |
TDS MEANS TAX DEDUCTED AT SOURCES. THAT MEANS TAX SHOULD BE
DEDUCTED ON THE INCOME OF THE ASSEASSEE AT THE TIME OF
PAYMENT OR AT THE TIME OF CREDIT WHICH EVER IS EARLIER.
IF THE PARTY IS REGISTERED THEN APPLY 2%, IF THE PARTY IS NO REGISTERED PARTY THEN APPLY 1%.
Is This Answer Correct ? | 7 Yes | 1 No |
Answer / suresh.n
tds means Tax Deduction Sources this on contractor/Subcontractors and Advertisement.
Is This Answer Correct ? | 6 Yes | 3 No |
Answer / kakadiya vipul
TDS MEANS THE DEDUCTED TO OVRE BILL HAS FIRM OF-2% TDS &
IND PAN TO 1% IN BILL AMOUNT
Is This Answer Correct ? | 6 Yes | 4 No |
I HAVE PURCHASE MATERIAL IN 3% CST FROM U.P.AGAINST FORM 'C'. AFTERTHAT I WILL NOT GIVE FORM 'C' THAN HOW MANY RS. PAID TO PARTY.
what is the Finalization?
Do we deduct TDS while making payment for AMC of UPS / computer of less then Rs.5000/- if yes then @ what rate?
8 Answers Ask Agro Chemicals, Atlantic BPO,
How will be the treatment for FBT in the Financial Year 2009-10
What is the difference between 24Q and 26Q form of tds
How much can I save U/S 80D to minimise my Tax Burden
What's the difference between Income Tax and P.Tax?
What is the TDS . and how can we identify this is TDS Deductable or not.
i m agent of reliance life insurance i have sold one traditional product of premium size 10,000/- rs and comission rate is 18% what will be net comission will be recd by me after deducting service tax and tds ?
6 Answers Bajaj Allianz, Reliance,
My salary is Gross 17000/- pm and 1 salary is added as bonus total CTC is 2.21 LPA. Is am eligible for incometax. Kindly revert .
2 Answers Panoramic Universal,
What is the road permit I want to sale in outside of state what is the required Document and why.
7 Answers Concept Concrete Enterprises, Hitachi, Syselec Technologies,
plz tell me Vat Return & Vat Forms