what is tds? how this tds deducted? what is percentage?
how to calculate? what is the procesure?
Answers were Sorted based on User's Feedback
Answer / prashant
TDS means tax Deduction at Source
If it is transporter when u pay the payment for the party u can deduct amount whichever is applicable (1%, 2% )if he don't have PAN
for Interest other than from banking co. is 10% commission of brokerage -10 % if above Rs. 2500 P.A Calculation is if u paid 20000 for rent so u can deduct 20000*10%=2000
profession charges 10 % if it is goes up to 20000 pa
ok if it is not sufficient u can call me on 9923593528
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Answer / kiran kumar
Tds is the tax collected on each and every individuals of a
country. It is deducted on the income earned by them. The
percentage is calculated as per the terms guided and
announced by the Govt. at the time of Annual budget. The
calculation is made as follows;
Rs. 0 to 1,50,000 tax Nil
Rs. 1,50,000 to 2,00,000 tax 10%
Rs. 2,00,000 to 2,50,000 tax 20%
Rs. 2,50,000 and above tax 30%
This calculation is made for the salaried employee (Male)
for the Financial yer 2008-09.
|Is This Answer Correct ?||4 Yes||1 No|
Answer / pratibha
a person is under liability to deduct income tax at source and pay it to government.TDS apply on income sources like salary, interest other than interest on securities, payments to contrctors,advertising contracts, commision, payments of rent, payment for professional or technical services
tds rate may be (1.03/1.133/2.06/2.266/10.3/11.33/20.6/22.66%) under circumstances
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