I want to know full details of TDS?
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Answer / anchit saxena
tax deduction at source is one of the mode of collection of
income tax. while certain kinds of payment the payer deduct
amount from the payee and deposit with income tax authority
1- tds on bank interest
2- tds on commission or brokerage
3- tds on lottery, horse race incomes etc.
| Is This Answer Correct ? | 22 Yes | 1 No |
Answer / chitra
Tax deductable at source that means tax amount is deducted
from the tax paid already for the source.
| Is This Answer Correct ? | 14 Yes | 8 No |
I have doubt on Input VAT & Output VAT (incoming vat / outgoing vat) I have a HMS software, where we have interface to tally erp. When we import the transactions to Tally from HMS (Hospital Management System) All the purchases what we do for a period, the tax paid on these purchase are showing as out going vat. Similarly when we do the sales of those purchased items through HMS, tax collected from customer is showing as incoming vat. Is these are correct terms what they had mentioned in HMS? Please help me out.
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