What is the Difference Between Income Tax and TDS ?
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Answer / debasish podder
Income Tax follows 1961 Income Tax Act, TDS i.e., tax
deducted at source is a main tool of income tax. It
consists varieties section which's been written in IT Act.
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / sachin pathak
income tax is wider term means it is an act 1961 under the
central board of direct tax act & the tds( tax deducted at
source) is a tax which paid by an employees from his
salary to the employer & the employer will deposite the
amount of tax ( tds) to the income tax department
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / saikat
Income tax is statutory payment against Income chargable by
income tax act 1961 by an assessee. TDS is a deduction from
his income at a specific rate as per rule of income tax act
and this deduction will be adjust from the actual tax
payable by the assessee against incmme at the time of
filling of return. Likely to say that TDS likea provision.
If the tds is greater than tax then balance will be
recoverable and vice versa.
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Answer / dinesh
sharma ji, too many question?
kindly read any +1, or +2 accounting book. or any general
accounting book.
| Is This Answer Correct ? | 1 Yes | 10 No |
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