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What is TDS
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Answer / lakshmanan. k
TDS= Tax Deducted at Source...
It has paid by a person or company.. u/s
192,193,194,194a,194b,194bb,194c(1),194c
(2),194d,194ee,194f,194g,194h,194i,194j & 194la.
Salary above Rs.13,333. p.m assessement year 1/4/09 -
31/3/10. under salary tds rate.
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TDS is Tax Deduction at Source
Assessee pays tax in the assessment year on the income
earned in previous year . Due to this rule the tax
collection is delayed till the completion of the previous
year . Even some times people conceal their income and the
tax is mot paid at all . In order to overcome these
problems, government started deducting some amount of tax
from the amount . Whichis receivable by the assessee .The
amount of tax so deduvted is called as "Tax Deducted at
Source".
It is one of the methoding of Collecting Tax.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / dillip chand
TDS means Tax Deducted at Sourse the amount of money
deduting from income of employee the time of paymentby
employer.for salay= total tax/total income X 100.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / pradeep
TDS is tax deduct at source there are two parts in this
case 1. deducter who deduct TDS and 2. deductee whose tds
deduct when 1 party make any work payment for 2 party that
time deduct tds of 2nd party and pay balance amount to 2nd
party and duducter release a TDS certificate for 2nd of
total tds deduction which help in Income tax return
Note.:- PAN is compolsury for TDS both parties
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / parth
tds stands for tax deducted at sorce... it is the tax that
an assessee has to pay at the time of earning an income..
it is different from tax paid at the time or filing return
since it is paid in the previous year itself...
TDS stands for Tax deducted at source. Any income payable
to the assessee shall be liable for deduction of tax at
source by the person responsible for making payment. TDS is
deducted at prescribed rate as per the Finance Act of that
year.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / chetan prakash cwa (cat)
tds stands for tax deducted at sorce... it is the tax that
an assessee has to pay at the time of earning an income..
it is different from tax paid at the time or filing return
since it is paid in the previous year itself...
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / lalit bhardwaj
A type of decree imposed by govt., we are bound to pay the tax
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Answer / savad kavay
TDS Referrs Tax Deducted at Source. Which Applicable for
those whose Annual Income Exceeds 180000
| Is This Answer Correct ? | 1 Yes | 0 No |
From the following find out a. Profit Volume ratio b. Break even point c. Sales for 40% P/V Ratio d. Margin of safety from the sales Rs 3,00,000 e. Net profit from the sales of Rs 3,00,000 f. Required sales for the new profit of Rs 70,000 g. Required sales for the net profit of Rs 70,,000 after tax, the corporate income tax being 40% h. Additional sales required to convert an increase of Rs 3000 p.a. in the sales manager salary Sale 2,00,000 Variable Overheads 1,50,000 Profit 50000 Fixed overheads 15000 Net profit 35000 Sl No Heads of Account Debit Rs Credit Rs 1 Drawing and Capital 750 15,000 2 Stock as on 01.01.2009 69720 3 Bills Receivable and bills payable 1000 1180 4 Returns 300 320 5 Purchases and Sales 4500 8300 6 Wages 70 7 Discount 30 8 Salaries 200 9 Canara Bank Shares 3000 10 Insurance 120 11 Building 3000 12 Furniture 700 13 Debtors and Creditors 600 1300 14 Cash in Hand 470 15 Overdraft at bank 900
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