Interested to Buy Any Domain ? << Click Here >> for more details...
What is the difference between a TDS and an income tax?
- 7 Answers
- 11228 Views
- TATA, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
TDS (Tax Deduction at Source) - It refers to deduction of
Tax at Source under a taxation Law (Income Tax, Sales Tax,
etc) from the amounts paid or payable(credited)to a service
provider, supplier or any other party in respect of any
income due or paid to them as per the provision of a
particular Act. In specific reference to Income Tax in
India, these are covered under various sections like Sec
192, 194, 195, etc.
Income is the tax payable by the assesses (Individuals,
Companies, Firms, etc) to the Central Government under the
Income Tax Act, 1961 in India. TDS can be reduced from the
taxes payable by the assessees for the relevant assessment
year. They need to receive and preserve the TDS Certificate
from those who have deducted taxes from the amounts due or
paid to them towards the income received or receivable.
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / madhukar
TDS IS TAX DEDUCTION AT SOURCES TDS IS AMT WHICH WE DEDUCT
FROM CONTRACTOR -SUB CONTRACTOR & PROFESSIONALIST PERSON OR
CONSULTING AGENCIES ETC AND THEN WE RETURN TO GOVT. TDS WILL
REFUND AFTER 2 YEARS
INCOME TAX IS DEDUCT FROM EMPLOYEE ETC.
| Is This Answer Correct ? | 5 Yes | 3 No |
"T.d.s means tax deducted at source from the salary "
"income tax is a direct tax which is paid to the govt on
the income earned by the assesse for the relevent assesment
year"
the expenses is of two types
1.allowable exps 2 dis allowed exps
out of total income earned by the assesse in previous year
the income of an assesse can be defined after considering
the allowable exps in to consideration the income of the
assesse - allowable exps can be regarded as income tax
payable to the dept on slab or flat basis
"if any modifications pls be free to post new answers thank
you"
| Is This Answer Correct ? | 1 Yes | 1 No |
T.D.S IS THE TAX DEDUCTED BY THE EMPLOYER AT SOURCE WHERE AS
INCOME TAX IS THE TAX WHICH IS LEIVED ON THE INCOME EARNED
IN A FINANCIAL YEAR PREVIOUS YEAR WILL BE TREATED AS ASSESMENT
YEAR TOTAL INCOME IN A YEAR -ALLOWABLE EXPS GIVES INCOME
EARNED IN A YEAR
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / chhotan kumar
Tds is a type of direct tax. It is deducted from different ways. TDS deducted from Rent, building , contractor, professional etc at different percentage.
Income tax a also a type of direct tax it is deducted from earned profit by business.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / shamli
TDS-
TDS is Tax deduction sourse it is deduct from vendor & it
is a Expenses of company.TDS will be refund after 2 years.
Income Tax -
Income tax deduct from emplyee & employer Income.income tax
not refund.
| Is This Answer Correct ? | 6 Yes | 7 No |
Answer / sandeep
tds is tax diduction source it mean this tax diducted in
interst,profesion liners,royalty etc
and income tax diducted in the business incomes
| Is This Answer Correct ? | 0 Yes | 4 No |
Do we deduct TDS while making payment for AMC of UPS / computer of less then Rs.5000/- if yes then @ what rate?
8 Answers Ask Agro Chemicals, Atlantic BPO,
please explaine excise ruturn forms like er-1,er-2,er-3 etc?
What is MAT stands for?
Suppose there is a computer Inst. providing a course abc and the total fees for it is Rs.10000 per annum, now this institute gives the right to another institute to provide facility of that course on behalf of it and the fees amt. is bifercated to Regd. fees Rs. 2500, Exam fees Rs.500 and tution fees Rs.7000,now the former institute gives right to later ins. to take Rs.7000 and says that the amt. of regd. fees and Exam fees i.e Rs. 3000 must be given to it plus service tax, now we have to save the former ins. from paying service tax on Amt. 3000, how can we do this?
how to calculate cst. give me example
I have purchase one air ticket from a travel agency. They allow 3000 rupees ticket to me for the total ticket purchase.But they debited staturoty TDS to me. I ask them for the legibility of this, they replaied they had received commission from airlines and airlines catch TDS from them and naturally it comes down to sustomers also. But my doubt is Airlines are allowed commission to Travel Agency and Travel Agency are not shared commission-they allowed discount. So is this TDS is applied for me or not?
what is mean by vat (value add tax) what is that value, is it gross amount of purchase/sales, or it net of amount of pur/sales - on which it will calculated, i need with example
how to make monthly salary sheets.
Can any One Plz Help Me with TDS Charts & Filling? Plz Send Me All Details to My email Id: satish.0483@gmail.com Plz Its Asked to Me In My Interview Held In Coming 2 Or 3 Days
What is the time limit for Payment of VAT Payable and Filling Return?
From when is the increased excise duty @2% applicalbe, is it from day it was announced or from 1st April 2010 .
please send me andhra bank clerk xam model papers
Audit 
