Answer / ashish burnwal

TDS ARE DEDUCTED AT SOURCE BY THE PARTY WHO PAYS THE AMOUNT TO ANOTHER Party i.e.contractors , employee etc.TDS is DIRECT TAX which is collected by CENTRAL GOVT.VAT is-charged by the buyers at the time of sell . TAX is charged only on value addition. VAT is INDIRECT TAX which is collected by State Government.

Answer / aishwarya...

VAT is basically an indirect tax which is lieved at every level of production and distribution of goods in the home market.It is added as a percentage charge based on assessable value that is added by the value additions done by each dealer.
TDS is one of the modes of collecting Income Tax from the assessees.Such collection of tax is effected at the source when income arises or accrues.

Answer / vaishali kulkarni

tax deducted at sources is deducted from income of
employee/worker which is due for limited period but value
added tax is charge only this scenario purchase or sale of
material & charged on assessable value of this product . one
important thing is that VAT is indirect tax bcoz it is not
business related exp. but TDS is business related exp thats
why TDS is direct tax .
TDS is transfer to the tax authority by the employer
which is automatically deducted from income tax
A value added tax (VAT) is a form of consumption tax.
From the perspective of the buyer, it is a tax on the
purchase price. From that of the seller, it is a tax only on
the value added to a product, material, or service, from an
accounting point of view, by this stage of its manufacture
or distribution

Answer / dinesh

Full form of TDS is tax deduction source it is the tax which
is deducted for the parties by company and it is a expense
for company.

Full form of TCS is tax collection source it is the tax
which have to be collected by company from other's and it is
a income for the company.

If VAT is charged means physical material is supplied so there is no TDS to be deducted. but if any amount is charged for works contract that is charges for any work done than TDS to be deduct on that amount

Answer / kumaresan v

Tds applicable for all services


Vat is a indirect tax .

For exampel - bear , ciccret , liquird ,for more product

Answer / swarup

TDS means tax deducted at source, which signifies that tax which has been deducted on income of an individual or on production of goods.
On the other hand VAT denotes value added tax, means the tax which is added when the purchase or sale of goods takes place within the state.

I am paying LIP to my daughter Rs 12500 per annum since 5 years. last year she got married. Pl advice me whether I can add her LIP payment to my savings to get Tax benifit

1 Answers  

What is MAT ?

2 Answers   Britannia, HDFC,

what is the last date to submitted of TDS and VAT And after due date what is the fine to be payable.

6 Answers  

let me know if a supplier in his invoice he has added Transportation charges & on that he is charging Vat whether vat is admissable on transportation Charges also ? Basic + Excise + Transportation charges = X amount on X amount Vat is chaged whether it is correct ( within State) Purchase. & also let me know what rule is applicable for Outside state ?

3 Answers   HDFC,

We had received form16A from one corporate company, against they made payment about Rs.49,000/- on 25/06/08, What i Should do this form ?

2 Answers  

CAN WE GET 100% CREDIT OF SERVICE TAX INPUT AMOUNT WHILE PAYING SERVICE TAX. LIKE SERVICE TAX PAYABLE IS RS. 100 AND SERVICE TAX INPUT IS RS. 30 FOR THE BILL OF TELEPHONE, TRAVELLING BILL REPAIR AND MAINT OF CARS ETC. PLS HELP ME OUT ASAP

3 Answers   Chartered Accountant,

what is the difference between Excise duty and Custom duty? and direct cost and Indirect cost with examples?

3 Answers   HCL,

what was the VAT rate on inverters(home ups) in karnataka on 2016??

0 Answers  

how i get h form

0 Answers  

I'm collecting TDS Certificate from one of our Customer for Ass. Year 2002-03 today and request IT Dept. to allow this as part of rebate to me, will they allow?? What IT Act says on this.

3 Answers   Voltas,

what is a rule for issue form 38 and tham form c any purchaser can issue form 38 or there is certain rule and regulation.

0 Answers   ABC,

In TDS Challan, i had written the TAN No of my company wrongly and i file it to the Govt. what can i do now? is there any problem reg this? wat is my next step? shall i give any letter to TDS Circle in this regarding? how can i approach them? Kindly help me immdly with the procedure.

0 Answers