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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (427)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1899)
 Accounting General interview questions  Accounting General Interview Questions (2810)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4360)
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 ?    57 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 ?    14 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
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
Please tell about Work Contract Tax and How much % to be deducted, Which type of contractors come under this WCT and what is the procedure after deducting the Tax.   2
Please tell me who is lible to pay service tax - give category & limit turnover   3
WHAT IS EXCISE DUTY.   1
IVrth quater tds return file last date   3
CAN MINOR GET PAN AND FILE THE RETURN?   3
what is modvat and cenvat   3
what is service tax ? due date for pymt ? return forms ? how input credit taken ?   3
what is cess?   1
We have purchased staples Item & vendor charged freight in his invoice.should we deduct TDS on freight charges by vendor?   1
Igave a cheque of Rs 25000/- to a Professional. Do I deduct TDS on Rs 25000/, then after three months I further pay the same Professional Rs 40000/-.Have I to pay Tds on 25000 Or Rs 65000/- or only Rs 40000/-,Have I to pay interest on delayed payment for Rs 25000/-?   3
Timings / Months when the advance tax shud be paid For Individual?   2
What is the diff between Comercial tax and sales tax? Idea 2
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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