What is TDS
Answers were Sorted based on User's Feedback
Answer / hariom yadav
TDS is a direct tax. We have credit payment to any
party.Then some part of payment will be deducted behalf of
income tax and diposited income tax department.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / jagadeesha.p
CONTRACT: 2.266%
RENT: 17%
Advertising :1.133%
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / nichit pandurang
TDS means TAX DEDUCT at Sorce
it will applicable certain limet by IT Dept
| Is This Answer Correct ? | 0 Yes | 0 No |
Tax deducted at source
If possible, let me know the rates of tds on
contract,advertisement, rent etc..)
if anybody has the % of rates as a format,it will be useful.
| Is This Answer Correct ? | 1 Yes | 2 No |
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If We received Purchase bill for Rs. 67320 2% CST ( Ta Rs. 1320 on Assessable value of Rs. 66000/- ) against Form C but while making payment we had paid as per 12.50 % Tax amount i.e. 8250 . Total paid Rs. 74250/- then is it necessary to give Form C to the party?
I am working with a partner ship firm. Their are six brances in other State. Our one branch(Haryana State) sale raw material to a customer(In Haryana)and charged all tax like excise & VAT. And purchase finished goods from the same customer for other branch in Uttarakhand. What should uttarakhand branch deduct TDS for these purchase amount. If yes, then pls send us notification nos.& TDS Section.
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I run a small consultancy firm (partnership with my mother) from my residence address. My firm is not registered, but I do have a separate PAN for it. I do not have any salaried employees. I get work done by freelancers and vendors and pay them against invoice. My annual revenues are just about Rs 5-6 lakhs. I am aware that I would need to register for service tax once I touch Rs 9 lakhs. But I am confused about my obligation to get a TAN and deduct TDS for all vendor/freelancer payments. Are there any minimum thresholds for withholding TDS? Right now I pay 100% of invoice amounts. Please advise.
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