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Categories >> Accounting >> Taxation


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What is the difference between Advance Tax and TDS?
 Question Submitted By :: Taxation
I also faced this Question!!     Answer Posted By  
# 1
Advance tax is paid in between financial year on the basis
of income and expenses on companies turnover that arrive (
i.e. before march ). It is just for safer side company makes
the advance tax payment and at the time of return file
balance tax have to made.

TDS have to pay as an when deducted.
Is This Answer Correct ?    79 Yes 19 No
Naina Jain
# 2
Advance tax attract usually before the closing of a
financial year, i.e., before 31.03.03. Company usually pay
tax ( direct/ indirect ) on monthly/quaterly basis after
ending of month or quarter. But before closing of financial
year Govt. needs revenue in way of tax well in advnace . It
is called Advnace Tax.

TDS , the full form is tax deduct at source, means against
rendering a service it attracts. such as contractor,
professional, agent etc , whenever Cos'make payment to this
venders , it deducts tax from these parties / venders and
deposited with Income Tax Authority and issue a certificate
to the concerned deductee as a proof of paying income tax.
Is This Answer Correct ?    40 Yes 17 No
# 3
TDS is a form of Advance tax only.
Difference is TDS is deducted by payer and deposited in
Govt. exchequer. Advance tax is paid by peson after self
assessment of tax.
Is This Answer Correct ?    20 Yes 5 No
# 4
1)Advance tax in tax liability of company, Advance tax pays
on companies profit. The company who laible to pay tax has
to pay this tax in advance in the beginning of the financial

2) Every Companies paying Tds on behalf of other company,
after completion of financial year company issue form 16A to
Is This Answer Correct ?    18 Yes 6 No
# 5
Advance tax is a presumtive tax...which is based on the
presumptions about the income. In is paid by
1. corporates
15% by 15th Jun
30% by 15th sep
60% by 15th dec
100% by 15th Mar
Non payment / sort payment is panalised u/ sec 234 B and C

2. Non corporates having tax liability above 5000 rs.
30% by 15th sep
60% by 15th dec
100% by 15th Mar

It is the liability of the assessee and he cant shift it.

While tds is tax deducted at source by the payer. In case
he fails to deduct the tds...government will hold him
liable and therefore we will have to bear our tax expense.
Is This Answer Correct ?    8 Yes 1 No
# 6
Advance Tax is Paid by Assessee itself after estimating
his/her income He /she is liable to pay advance tax only
when his/her liability to pay Income tax is more than Rs.
5,000/- in Financial year and ofcorse, advance tax is to be
paid for cutrrent financial year in periodic installment and
percentage as described by the income tax act 1961


TDS is tax deduction at source which is to be deducted by
third party/payee while making payment for job/services
rendered at prescribed rate
Is This Answer Correct ?    8 Yes 3 No
Hitesh Panchal
# 7
Thank You all for the answers 
Is This Answer Correct ?    13 Yes 11 No
Arijit Roy
# 8
Advance Tax paid on tax own estimated income for the next
AY in four qtr as % specified on estimated income where tax
liability is more than Rs 5000.00 however tds is deduted on
certain nature pmt to other as rate specifed.
Is This Answer Correct ?    5 Yes 5 No
Sarvesh Mani Tiwari
# 9
advance tax is a tax paid by the assessee in advance in the
financial year which is related to the previous year. he
has to pay 30% of his income before 30th sep and 60% of
income before dec 30th and balancing before 31st march, if
his tax exceeds Rs. 5000/-.

TDS is tax deducted at source. Tax at the applicable rate
is to be deducted form the salary by the employer at the
time of paying/crediting the salary. The employer will give
a Tax Deduction certificate at the end of the financial
year and the employee can claim this deduction through his
income tax return for the year.Also, in case of contract or
service provided by anyone to another, above a certain
amount, tax is to be deducted at the applicable rate which
are different for different types of payment. The payer of
the bill will give a tax deduction certificate in the
prescribed form to the latter to claim in his tax return.
The person who deducts tax has to deposit the tax with the
govt. treasury or authorised banks. A quarterly return has
to be filed with the appropriate authorities, of the tax
deducted. Penalty for not filing the return is Rs. 100/-
per day of delay
Is This Answer Correct ?    1 Yes 1 No
# 10
Advance tax contains " Tax paying in advance against company
income / Profit "

TDS Contains " TDS Paying after deduction from individual
income / sources "
Is This Answer Correct ?    1 Yes 1 No

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serice tax can be exempted in calculation of tds on contract wages as exempted like rent on service tax   2
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What is tax?   1
a x company deduct tds against our bills so how i entry this type of transaction in talyy 9.0 ?   1
For more Taxation Interview Questions Click Here 

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