Follow Our FB Page << >> for Daily Laughter. We Post Funny, Viral, Comedy Videos, Memes, Vines...

What is the difference between Advance Tax and TDS?

Answers were Sorted based on User's Feedback

What is the difference between Advance Tax and TDS?..

Answer / naina jain

Advance tax is paid in between financial year on the basis
of income and expenses on companies turnover that arrive (
i.e. before march ). It is just for safer side company makes
the advance tax payment and at the time of return file
balance tax have to made.

TDS have to pay as an when deducted.

Is This Answer Correct ?    101 Yes 29 No

What is the difference between Advance Tax and TDS?..

Answer / gsabyasachi

Advance tax attract usually before the closing of a
financial year, i.e., before 31.03.03. Company usually pay
tax ( direct/ indirect ) on monthly/quaterly basis after
ending of month or quarter. But before closing of financial
year Govt. needs revenue in way of tax well in advnace . It
is called Advnace Tax.

TDS , the full form is tax deduct at source, means against
rendering a service it attracts. such as contractor,
professional, agent etc , whenever Cos'make payment to this
venders , it deducts tax from these parties / venders and
deposited with Income Tax Authority and issue a certificate
to the concerned deductee as a proof of paying income tax.

Is This Answer Correct ?    56 Yes 19 No

What is the difference between Advance Tax and TDS?..

Answer / kumar

TDS is a form of Advance tax only.
Difference is TDS is deducted by payer and deposited in
Govt. exchequer. Advance tax is paid by peson after self
assessment of tax.

Is This Answer Correct ?    31 Yes 8 No

What is the difference between Advance Tax and TDS?..

Answer / amol

1)Advance tax in tax liability of company, Advance tax pays
on companies profit. The company who laible to pay tax has
to pay this tax in advance in the beginning of the financial

2) Every Companies paying Tds on behalf of other company,
after completion of financial year company issue form 16A to

Is This Answer Correct ?    23 Yes 7 No

What is the difference between Advance Tax and TDS?..

Answer / jubilee

Advance tax is a presumtive tax...which is based on the
presumptions about the income. In is paid by
1. corporates
15% by 15th Jun
30% by 15th sep
60% by 15th dec
100% by 15th Mar
Non payment / sort payment is panalised u/ sec 234 B and C

2. Non corporates having tax liability above 5000 rs.
30% by 15th sep
60% by 15th dec
100% by 15th Mar

It is the liability of the assessee and he cant shift it.

While tds is tax deducted at source by the payer. In case
he fails to deduct the tds...government will hold him
liable and therefore we will have to bear our tax expense.

Is This Answer Correct ?    12 Yes 1 No

What is the difference between Advance Tax and TDS?..

Answer / hitesh panchal

Advance Tax is Paid by Assessee itself after estimating
his/her income He /she is liable to pay advance tax only
when his/her liability to pay Income tax is more than Rs.
5,000/- in Financial year and ofcorse, advance tax is to be
paid for cutrrent financial year in periodic installment and
percentage as described by the income tax act 1961


TDS is tax deduction at source which is to be deducted by
third party/payee while making payment for job/services
rendered at prescribed rate

Is This Answer Correct ?    11 Yes 4 No

What is the difference between Advance Tax and TDS?..

Answer / r.srinivasa bhat

Advance tax is the tax payable on 15th of June, September, December and March on the self assessed estimated income based on the income of the previous financial year and the income over & above the same for the respective financial year in which advance tax is paid.

Where as TDS is payable by the third party viz.employer or a person/company/ Institution by recovering the amount at the applicable rate from the amount paid to the beneficiary towards the remuneration for services rendered and other payments like interest on deposits, rent on hired premises, salary, pension etc...

Is This Answer Correct ?    2 Yes 0 No

What is the difference between Advance Tax and TDS?..

Answer / arijit roy

Thank You all for the answers

Is This Answer Correct ?    14 Yes 13 No

What is the difference between Advance Tax and TDS?..

Answer / sarvesh mani tiwari

Advance Tax paid on tax own estimated income for the next
AY in four qtr as % specified on estimated income where tax
liability is more than Rs 5000.00 however tds is deduted on
certain nature pmt to other as rate specifed.

Is This Answer Correct ?    6 Yes 5 No

What is the difference between Advance Tax and TDS?..

Answer / g.ramya

advance tax is a tax paid by the assessee in advance in the
financial year which is related to the previous year. he
has to pay 30% of his income before 30th sep and 60% of
income before dec 30th and balancing before 31st march, if
his tax exceeds Rs. 5000/-.

TDS is tax deducted at source. Tax at the applicable rate
is to be deducted form the salary by the employer at the
time of paying/crediting the salary. The employer will give
a Tax Deduction certificate at the end of the financial
year and the employee can claim this deduction through his
income tax return for the year.Also, in case of contract or
service provided by anyone to another, above a certain
amount, tax is to be deducted at the applicable rate which
are different for different types of payment. The payer of
the bill will give a tax deduction certificate in the
prescribed form to the latter to claim in his tax return.
The person who deducts tax has to deposit the tax with the
govt. treasury or authorised banks. A quarterly return has
to be filed with the appropriate authorities, of the tax
deducted. Penalty for not filing the return is Rs. 100/-
per day of delay

Is This Answer Correct ?    3 Yes 2 No

Post New Answer

More Taxation Interview Questions

What is the difference between Road permit and Way bill ?

1 Answers  

Please tell me the rate of service tax of Transportation and the who is liable to deposit the Service Tax, the receiver of service or provider the service

0 Answers  

tds will be charged by hotel industry on what

0 Answers   Hotel Management,

what is timings of ruturn filing of vat,cst,service tax,cenvat explaine?

3 Answers   Visa Steel,

10% t.d.s needs to be deducted if one gets >20000/PA as Consultancy charges. Is this law applicable to physically chanllenged indiviuals whose disability is gtreater than or egual to 80%. My disability is 80% and I am working with an IT company on contract and gets 40K on a monthly basis starting Nov 10. How much TDS should I be oaying. Could someone please assist me with this query. Thanks in advance:-)

2 Answers   Bank Of America,

If i want to change a proprietor concern yo a partnership concern. do i have to pay full tax on every product i have in stock or just simple make a partnership deed and apply a new pan card and register in sale tax department ?

0 Answers  

How to Prepare Balance Sheet for Annual Tax Assessment. Do You Have any Format, Please send on (

0 Answers  

what is mean by security transaction tax? it considers how during profit calculation of shares trading.

11 Answers   Eastman Chemical, ICICI, Wipro,

Clasify Capital and capital Gains

2 Answers  

what is the rate of TCS tax?

5 Answers   TCS,


7 Answers  


1 Answers   ABC,