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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (159)
 Taxation interview questions  Taxation Interview Questions (1917)
 Accounting General interview questions  Accounting General Interview Questions (2844)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4376)
Question
what is the meaning of tax collection at source?
 Question Submitted By :: Taxation
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
TCS means Tax Collected at source .i.e. While raising
Invoice for Sale of Scraps, Waste etc we have to collect
Tax thro' Invoice and we have to remit the Central Govt. as
like TDS

P.s. Mr Ramesh TDS is entirely diffrent from TCS
TDS to be collected at the time of Payment / Accounting
TCS is to be collected from the sale Invoice on Scraps,
Waste etc
 
Is This Answer Correct ?    58 Yes 7 No
Soundar
 
Answer
# 2
Tax Collection at Source means, we have to deduct tax on
sale of scrap or waste material of the concern and
deposited/credited to the Central Govt. before 7th of each
month or quarter according to the case
 
Is This Answer Correct ?    15 Yes 7 No
Bhupinder Singh
 
 
 
Answer
# 3
sounder is correct
arnab
 
Is This Answer Correct ?    6 Yes 5 No
Arnab
 
Answer
# 4
TDS IS DEDUCTED ON VARIOUS HEADS PAYMENT LIKE INTEREST ,
CONTRACT, RENT, PROFESSIONAL FEES,CONSULTANCY
FEES,COMMISSION & BROKERAGE,ETC., ON MAKING OF PAYMENTS TDS
TO BE DEDUCTED AND REMITTED TO THE CREDIT OF CENTRAL GOVT.
 
Is This Answer Correct ?    32 Yes 44 No
Ramesh
 

 
 
 
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Give some examples under sec. 80C? What is the maximum limit ? OPI-Global 6
What is meaning of Advance Tax? How we will calculate? What is the %? Which form available for this? What is the penalty? IBM 2
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What is the procedure for Sales Tax Filing? which can come under this head. whn we file it? wat r all the materials to be submitted? For eg: i hav a company named 'A'in chennai. my branch 'b' is in Bangalore. the sales made in bangalore can be (come for sales Tax Filing)filed in chennai? and also the purchase from bangalore can be(Sales tax filing) filied in chennai? Mindlogicx 4
about E-1 Form ?   2
what is excise duty   4
i have purchase 2no. air conditioner & some other f\a for office & pay vat according to bill can i take inpute vat banifits in the quater returns what is the process for taKEN BENFITS OF VAT.   2
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How to calculate IT,TDS,ADVANCE TAX,VAT,CST,EXCISE DUTY,PT,ST.ESI.PF? Jaycon 5
how we fill right information in tally so that all service tax form fill automatically?   1
how can i(accoutant) file tds,vat,service tax,salestax,business it returns? GMG 2
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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