Interested to Buy Any Domain ? << Click Here >> for more details...
What is the Difference Between Income Tax and TDS ?
- 4 Answers
- 10644 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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.
| Is This Answer Correct ? | 1 Yes | 0 No |
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 |
What is the treatment of loan and its interest in trading profit and loss ,balance sheet
Where we post the Amalgamation of goodwill
what is asset in accounting
WHY CST CHARGED BILLS ARE RETAIL INVOICES.IT CANT BE TAX INVOICE.
What is short term > debtors & Creditors ?? What is Long term > debtors & Creditors ??
what is thr differences between sales & sales invoice ?
what is secondary market?
Mr.X working in an organization,He as taken to salary advance 10,000 on 15/1/2016.He total salary payed on 30,000 5/2/2016?
1. During the current period, ABC Ltd sold 60,000 units of product at Rs. 30 per unit. At the beginning for the period, there were 10,000 units in inventory and ABC Ltd manufactured 50,000 units during the period. The manufacturing costs and selling and administrative expenses were as follows: Total cost Number of units Unit cost Rs. Rs. Beginning inventory: Direct materials 67,000 10,000 6.70 Direct labour 1,55,000 10,000 15.50 Variable factory overhead 18,000 10,000 1.80 Fixed factory overhead 20,000 10,000 2.00 Total 2,60,000 26.00 Current period costs: Direct materials 3,50,000 50,000 7.00 Direct labour 8,10,000 50,000 16.20 Variable factory overhead 90,000 50,000 1.80 Fixed factory overhead 1,00,000 50,000 2.00 Total 13,50,000 27.00 Selling and administrative expenses: Variable 65,000 Fixed 45,000 Total 1,10,000 Instructions: 1. Prepare an income statement based on the variable costing concept. 2. Prepare an income statement based on the absorption costing concept. 3. Give the reason for the difference in the amount of income from operations in 1 and 2.
can we change date in tally.erp s/w in educational mode ?
What does mean is Profit & Loss Account Shows Debit Balance in Trail Balance ?
How do I pass entries towards advance paid to program ependiture. ex: Rs.20000 advance paid to Program officer. and he come back with program expenses venue Rs.1000, food expenses Rs.10000 and travel Rs.4000 and accommodation Rs.6000. Kindly give me the answer that how do I pass the entries and how should I adjust advance.
3 Answers Communication for Development and Learning,
Audit 
