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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1903)
 Accounting General interview questions  Accounting General Interview Questions (2825)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4368)
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
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
when sales made in 2% cst against c-form, the buyer issue the c form to the seller, what the seller made on these c form , how can the seller benefited by the c form?   2
what is GDP Banking 4
Till the Discounted bill is paid by acceptor it remains. 1) A contigent liabilities for the acceptor. 2) A contigent Liabilities for the Drawer. 3) A contigent Liabilities for the bank 4) A contigent Liabilites for drawer   2
What is service tax?how deduct service tax?   2
If some service provider gives a bill having service tax. say cost of service is Rs 100, He is adding 12.36% sevice tax. Total comes 112.36. we have to deduct TDS @ 11.33%. On what amount we should deduct TDS? (on 100 or 112.36 ) Gammon 16
When we (Company) deduct surcharge of Contractor (above 10 Lakhs Individual, 1 Crore in case of Company) Pl confirm the meaning of 10 lakhs and 1 Crore. Either it means payment made to the contractor in a year by a company or one & more company (Aggreg. Income). Pl explan in detail. Maruti-Suzuki 6
What is the Special provision for computing profits and gains of business of civil construction GET-Engineering-Construction 3
what is the tax of business income ?   7
what are the ways of paying service tax and vat montly manually??   4
what is the present tds rates? PWC 4
What's the difference between Income Tax and P.Tax?   1
Can i take service tax on freight outward.   6
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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