What is the Mean of TDS,Benefits of TDS,Demerits of TDS?
TDS means Tax Deduct At Source. TDS will be deducted by the
Govt from an Assessee's Income which he/she Receivable.
According to Section 203 of the Indian Income Tax Act 1961,
TDS should be Calculated on incomes such as interest on
Securities, Special Income like as Income form Lotteries,
Cross Word Puzzles, And From Winnigs, Rent, Royalties,
Subcontract Works, Conrract WOrks, Labour Payments etc...
The TDS Benefit Will be avial to An Assessee While Paying
his/ her Tax Liability. the Rates of the TDS Vary from
Expenditure To Expenditure. According to Indin Income Tax
Act 1961, Form No 16 Will be Given By the Govt Through The
TDS Deductor to Deductee......
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Hi Everybody, i would like to know the journal entry for the below question, 1). One color Tv is taken by proprietor for Personel use. also in TALLY Accounting package how i can post,if it is drawings,under which account, please let me know. Thanks,
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From the following particulars taken on 31 December, 1995, you are required to prepare a bank reconciliation statement to reconcile the bank balance shown in the Cash Book with that shown in the Pass Book: (i) Balance as per Pass Book on 31 December, 1995, O/D Rs 1,027. (ii) Four cheques drawn on 31 December but not cleared till January are as follows: Rs 12; Rs 1,021; Rs 98; and Rs 113. (iii) Interest on O/D not entered in Cash Book Rs 51. (iv) Three cheques received on 30 December and entered in the bank column of the Cash Book but not lodged in bank for collection till 3 January next: Rs 1,160; Rs 2,100; and Rs 2,080. (v) Cost of cheque book, Pass Book, etc; Rs 1.50 entered twice erroneously in Cash Book in November. (vi) A Bill Receivable for Rs 250 due on 29 December, 1995 was passed to the bank for collection on 28 December, 1990 and was entered in Cash Book forthwith whereas the proceeds were credited in the Pass Book only in January following. (vii) Chamber of Commerce subscription Rs 10 paid by bank on 1 December, 1990 had not been entered in the Cash Book. (viii) Bank charges of Rs 5 had been debited in the pass book twice erroneously. . . . plz be fast
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3 Answers Communication for Development and Learning,
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