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Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (427)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1898)
 Accounting General interview questions  Accounting General Interview Questions (2808)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4359)
Question
what is TDS i need clear explanation and how to file tds 
return
 Question Submitted By :: Taxation
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
TDS is ‘Tax Deducted at Source’. This rule is introduced by
the Govt. is in order to expedite Tax Collection (At least a
part of the Total Tax Liability) as soon as an assessee earn
his income. Normally we pay Income Tax and File returns of
any Financial Year in the Next Year. By Deducting Taxes in
the form of TDS, Govt. can get the revenue (At least a part
thereof before setting off) in advance. At the end of the FY
when you file your IT Return, you can deduct the amount
deducted so far by way of TDS from your overall tax
liability and pay only the balance if anything is due to the
Tax Department or you can ask for a refund if the TDS
deducted is more than your liability. TDS is deducted on
salaries, dividend, Insurance, Winning from Lotteries, Horse
Race, Rent, Commission, Professional Income etc.., etc.., .
It is deducted according to the specified rates as per
Finance Act.
 
Is This Answer Correct ?    25 Yes 1 No
Sanmilan
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
please explaine excise ruturn forms like er-1,er-2,er-3 etc? Visa-Steel 4
is WCT TDS should deducted on gross value (basic+service tax)?   4
is there any input-output benefit against service tax like vat or not?   1
Can I deduct TDS on Advance payment towards advertisment expenses.   6
How cess should be calculated. Is it calculated on assessable value of the product or on the sum of assessable value & BED.   1
if i am a normal salaried employee and will not come under IT payer slab, if i have received a monitory help of Rs.15lacs from my friend who is staying abroad and it is on returnable basis, how i can show this in my IT remittacnce? is there any taxes i have to pay?. if i am going to payback him every year 1lacs how i have to show this? please suggest me Reg RK   1
how esic be calculated? On basic salary or earned salary? If i have gave advance salary to an employee in last month then how should i deduct the salary take an example if salary of an employee is Rs. 4750 and i deduct rs. 83 as esic contribution in current month if i've gave 83 in advance in last month then how much money exactly i give him. means esic cut on 4667 or 4750?   1
What is the form H in case of sale to export? what is the sale against form "H"? Delta 2
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Which form we use for depositing works contract TDS?   4
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PURCHASE OF FIXED ASSETS THAT PURCHASE TO CLAIM THE VAT PAYMENT ?   4
 
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