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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 (1905)
 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4371)
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
 
can i take input tax credit on inter state purchase? reply breifly. IOCL 9
What is VAT stands for? what kind of VAT it is? OPI-Global 6
what are the present provident fund rates?   3
If Advance deposited Rs.200000/-, TDS diposited Rs.100000/- & Provision for Income Tax is Rs.250000/- but It department raise the Assessment Tax is Rs.350000/-. What will be the journal entries? Honda 4
our Consinor Vat rate @14.5%(revised rate) In pujab , is the same rate applicable in A.P. Ex:I have billed 10 auto tubes each @ 120/- = 10*120=1200 + vat 14.5% = 174 total bill value Rs.1374/-...can we collect 14.5% vat or 12.5%(in A.P.) vat from customer..   2
What is excise duty   4
in excsie what is the function of PLA register?   1
Why Govt. Have Need of WCT. Vijai-Electricals 2
we purchased material from other state without waybill, can we get c-form without waybill?   1
Dear friends please let me know, what % of amount has deduct from vendors bill for civil supply and instollation work   3
what is service tax-meaning,rates for 2008-09,heads,procedure of calculating,all form of service tax,ahen service tax filled.complete information about service tax? Reliance 3
why use the tax & duty in Accounts   1
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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