TDS means tax deducted at source in which tax is deucted on
that amount that company's pays from its profit and it is
shown getting submitted IT return
TCS means tax collected at source inwhich tax is collected
from the various sources for paying tax from there services
has been provided
TDS is the mode of collecting income tax.It's full form is
Tax Deducted at Sourse. The employer/Payer or deductor
deducts the tax from the payments which is made for
employee/Payee or deductee and deposited it in the
authroised banks or treasury, which is authorised by income
TCS is also the mode of collecting income tax. It's full
form is Tax collected at source. In this the payer or
collector collects tax on the time of payments and
deposited it in the authorised banks or treasury, which is
authorised by income tax departments.
TDS: The tax deduction at source means that the person responsible for making payment of certain income to the income earner deduct income tax at the prescribed rates on such income before payment is made to them.The amt of tax collected is paid to government treasury.
can anybody tell me what is the last date of Service tax
payment (Quarterly/Monthly) in Company or other then
company (individual/propritorship/partnership) & what is
the last date of half year return.
MY QUESTION IS
1. WHAT ARE THE LEDGERS TO BE OPEN FOR TDS
2. WHEN AND TO WHOM I DEDUCT TDS
3. JOURNAL ENTRY FOR ALL TDS TRANSCATION
5. IN TALLY ERP MENTION LEDGER TO BE CREATED UNDER WHAT GROUP
6. THEN ANY OTHER IMPORTANT INFORMATION ABOUT TO CHECK IN TDS
Our Company is engaged in Construction activities. We are
going to purchase Exacavator Machine from the interstate.
Whether the above purchase covered by issuing C form ?
Whether can we apply for C Forms in sales tax Dept ?
Please clarify sir