what is the difference between tcs and tds explaine?
- 1 Answers
- 5213 Views
- Visa Steel, I also Faced
- E-Mail Answers
Answer Posted / bharathi
TCS is tax collection at source,while we selling some
products like arrack,scraps etc.. the seller has to collect
1% tax from the buyer.TDS tax deduction at source,while
making payment the we have to deduct certain percentage of
tax (% depends on the nature of payment)
| Is This Answer Correct ? | 15 Yes | 4 No |
Post New Answer View All Answers
I paid service tax double time due to web site problem for the year 2009-10, is there any chance to claim that amount if yes please tell me the process. thanking you.
The company i approached asked me that they are registered Manufacturer to market fire extinguishers. They have both VAT & CST registration. When they supply material out of state i.e. under "C" form, to a Dealer who is also registered with CST and who can issue "C" form but for product paint. Will the "C" form issued by the Dealer be acceptable to us. What law governs, since the dealer is not registered to trade in Fire Extinguishers? In the first instance will he be able to issue "C" form at all i.e. Will the government allow him to issue "C" Form, if so under what norms? In the case that my company is the Dealer and registered for trading in Paint and we are taking Fire Extinguisher Dealership will I get set-off in "C" form for purchase and Sale. Kindly let me know on russel.raphael@gmail.com
WHAT WE HAVE TO IF WE MAKE A BILL 5% CST IN PLACE OF 2% CST AND DIPOSIT THE TAX
Our firm is 7 years old. We don't have PT registration for partners as well as employee. If we do it now, will it be a problem or how much penalty will come. Any one can give suggestion.
what is form 8? what are all the details to be collected while buying c form
certificate of export is for which items?
For what Purpose we should pay Profession Tax? After paying Profession Tax we can get benefit for personnel return filling? If Yes? than where?
My client is a Partnership Firm and was converted in to the Pvt. Company. Now, the Question is that the both the entity i.e. Partnership Firm and Company entitled to get the Depreciation of Proportionarate basis, they used the Assets? I reffered to the Income TAx Act, there is no any specification regarding the convertion only the amalagamation and merger.
Does the tax liability of an individual get affected due to his residential status? If yes, explain.
What are Excise Duty rates for Fin.Year 2009-10 for Pesticides and Chemicals Industries.
What is the current vat amount of aluminium goods like dishes, buckets etc hsn code is 7615-19
Suppose that a sub-contractor total work done for Rs.100 & he charged 10.3% service tax.Then total gross value will RS.110.30.On what amt you will (that means on total work done or total gross value)charged Retention@10%,WCT@3% & TDS@2%.
Provision entry for current Year Income Tax A/c ----Dr To Income Tax Payable A/c Adjustment entry in next Year Income tax payable---Dr To bank A/c kindly tell me which head of income tax a/c and income tax payble a/c
What is the Rate of Service tax for Short term accommodation services & Restaurant Services ?
In the Balance sheet of a company you see the following details, Liabilities: Provision for tax - AY 2008-09 RS 200000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 Assets: Advance Tax- AY 2008-09 RS 150000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 On 15-03-2011, the assessment order for AY2008-09 was received and the final tax liability was stated to be RS 250000. Pass the journal entry for the closing of the relevant accounts in the books for the AY 2008-09.
