what is tds
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tDs Stand for Tax Deduction At sorce . tds is done at the
time of salary ..its a function that is done by company or
firm or owners a/c department. it depend upon us that we
need tds facility to avail or not . if tds deducted at
soucre then liability will be arise by that
compant/firm/owner in respect to govt. . if they'll nt pay
that tax to govt. then they be gulity & punished by govt as
panelity.
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / mahesh ghonge
TDS means Tax Deducted at Source. It means tax on income
deducted there only from where it arises.There r many types
of TDS like TDS on Salary, TDS on Contractors, TDS on
Professional, TDS on Rent etc.
E.g.If X co. is paying Rs.50,000/- to "Y" who is contractor
that time company relase his payment after deducting
respective Tax & same will deposit in Govt.account within 7
days from the month in which Tax has deducted.
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Answer / om prakash
tds means tax deducted at sourec . when income was arise
then deduct the tax called tds
| Is This Answer Correct ? | 0 Yes | 0 No |
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