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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 (1900)
 Accounting General interview questions  Accounting General Interview Questions (2815)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4365)
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
 
What is "E1 Form" ? what are the types in that? why it is used?   1
What is Entry Tax as enforceable from 1.12.1999?   1
what is the rate of taxes for works contract   7
If suppose we wrongly deduct the TDS on professional fees then what to do?   2
what is security transaction tax Wipro 2
If we purchase Inter -state any Plant & Machinery for Works contract for completion of a Project and later after completion of the same if we move that material to other State , Can we get "C" form against this material where we have purchased it. Is there any Notification regarding the same . In which circumstances a Works contractor can get "C" Form ? If against "C" Form a works contractor purchased the material and passed on the material via Works contract to the client whetheer Local VAt rate is also applicable on the same .   1
Define salary for the following purposes 1.Entertainment Allowances 2.House Rent Allowance   1
is WCT TDS should deducted on gross value (basic+service tax)?   4
Under which head depreciation will come? OPI-Global 4
what is rate of vat in raj.   1
Please let me know How to deduct TDS when we paid amt to the vendor in account payable and what procedure for doing payment of tds and how Forbes 1
service tax and vat,both is possible on one item CS-Business-Services 7
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
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