what is the diffrence between tds and vat?

Answer Posted / chandrakant

TDS is The Part Of Amount That deducted on income of
service done that may Salery,rent commision,fees,intrest at
payment time,it is direct taxable on services.
and VAT is part deducted at buy and sale of Goods,and it
is indirect taxable on goods.

Is This Answer Correct ?    13 Yes 3 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

My unit is a manufacturing unit and deals in Auto-parts and registered in Central Excise,Service Tax and Sales Tax. Now,we intend to import machines in the company for sale them in Local market.What procedures we have to follow for the aforesaid purpose?

1613


what is the method of work contract tax computation

2392


how to adjustent the accounts part of the company and how to calculate vat and gst .kindly answer me sir. my e-mail id is:- dipak92.dip@gmail.com

983


what about WCT (Work Contract Tax)

1607


what was the VAT rate on inverters(home ups) in karnataka on 2016??

1030






what is excise return, what is form requirement and what is procedure for excise return?

1782


in a company, if employee contributing To PF equal to employer contribution. can he voluntarily stop his contribution while he is in service with that company?

1417


cst rates

1498


Hi, Please guide me in the TDS calculation. I know the slabs.But I dont have much idea about the deduction part.What is the need of Bsic and HRA while calculating TDS.Also I heard that LIC, Rent etc is excempted from TDS.Please guide me...my email id is tinjusyriac@gmail.com Thanks in advance..

1606


if waybill issued by consignor , then c form issue whose responsibility?

1082


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

1350


What are the procedures for remitting WCT?

1700


What are Excise Duty rates for Fin.Year 2009-10 for Pesticides and Chemicals Industries.

1894


How To fill vat, Tds, Service tax Return Form? Please Explain With an Example.

11174


calculation of Tds on subcontractor

1873