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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (422)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (157)
 Taxation interview questions  Taxation Interview Questions (1892)
 Accounting General interview questions  Accounting General Interview Questions (2777)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
Question
what is the meaning of tax collection at source?
 Question Submitted By :: Mohitmittal13
I also faced this Question!!     Rank Answer Posted By  
 
  Re: what is the meaning of tax collection at source?
Answer
# 1
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 43 No
Ramesh
 
  Re: what is the meaning of tax collection at source?
Answer
# 2
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 ?    56 Yes 7 No
Soundar
[Nalinum Builders]
 
 
 
  Re: what is the meaning of tax collection at source?
Answer
# 3
sounder is correct
arnab
 
Is This Answer Correct ?    6 Yes 5 No
Arnab
 
  Re: what is the meaning of tax collection at source?
Answer
# 4
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 ?    13 Yes 7 No
Bhupinder Singh
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
WHAT IS THE TDS RATE ON FREIGHT   6
How to calculate the interest on housing loan for an LET OUT PROPERTY?   3
Any body plz guide me. I have making a invoice of 4% sales tax rate but actual rate of sales tax 5%.   1
waht is present tds rates BirlaSoft 4
wHAT IS THE DIFFRANCE BETWEEN PAN NO. AND TAN NO. AND WHAT IS THE USE OF BOTH OF IT......?????   9
Dear Sir please give the answar for the following question. What is the CST rate, if C form is fail to file after issued final Assessment Order. Because our commidity is @ 4%. But in the assessment order they are demanding @12.5% tax to which c forms are not submitted. for this issue what is the rate applicable.   1
i am proprioter of firm can i use my tan firm & personal   1
how much deduct TDS company or non company   8
I am working in footwear company at Himachal Pradesh. we want to send raw material - (leather) for Job work our other branch. now my question is that will have we any permission taken from excise & sale tax deppt. ABC 1
WHAT IS THE COMPLETE ACCOUNTING PROCEDURES OF SERVICE TAX? WWHAT IS ITS ACCOUNTING TREATMENTS & HOW INPUT CREDIT WILL BE TAKEN & HOW IT WILL BE ADJUSTED AGST OUTPUT SERVICE TAX? PLS SUGGEST ME?   1
what is WCT? DHL 4
What is Form-I, FORM-F, FORM-H, FORM-E and FORM-C? PMT-Machines 2
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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