what is the meaning of tax collection at source?
Answers were Sorted based on User's Feedback
Answer / soundar
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 ? | 61 Yes | 8 No |
Answer / bhupinder singh
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 ? | 19 Yes | 8 No |
Answer / ramesh
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 | 46 No |
what is the ct-1 sale? if ct-1 bond is misplaced what is the procedure for applying for new bond.
what is service tax? Tell upto filling retuns.
What is tds and who is liable to deduct tds
what is TDS
pls define central sales tax , how will show in invoice a cst rate on interstate sales with-out c -form and against c form . clear it
Rules of Income Tax related to Advance Tax?
wat is 80c Deductions?
how to get input credit in vat & service tax
I renders interior Services, consider one project cost Rs.500000/- Scenario 1 - Material purchased on my Firm Name Material - 300000 - 0 On party behalf Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit Scenario 2 - Material purchased by client Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit In both Profit is same Rs. 50000/-. which is beneficial for me in terms of turnover or tax matters. and if I have to raise a bill to party as per both scenario, how it will affect bill and tax, where will I suffer loss?
Can individual deduct his expences from his income at the time of his returns? Any scop is ther in Form 16A to deduct the expences from income? Which kind of expences is allowed to deduct in Form 16A?
vat return dates for uttrakhand
what is fbt? and how to calculate of perks which are give by the employer to employee?