Answer Posted / vikas jaiswal
Hi,
TDS is actually a deduction while TCS is a collection of
tax at source, meaning thereby, if X makes payment of Rs.
100 to Y and such payment is covered under the provisions
of tds, then X will have to deduct tds say Rs. 10 and then
will make payment of Rs. 90 to Y.
While, if X sells goods worth Rs. 100 to Y and such goods
are covered under the provisions of tcs, then X will
collect Rs. 10 more from Y and hence the sale will be for
Rs. 110.
In both the cases Rs. 10 will be deposited to govt. account.
Hope it will clarify the provision a little clear.
Is This Answer Correct ? | 54 Yes | 3 No |
Post New Answer View All Answers
i have working in contruction company i want billing outside delhi pls. tell me can i bill with tax invoice party provide tin no.
how enter service bill in the tally and what is the process of service bill. aganst service charge @ 10.3%, sercharge 2% cess 1%
Cost center 60500 in controlling area 1000 is locked for revenue postings on 31.03.2008.Now How can I Assign the account to another cost center or allow cost center 60500 to again accept revenue postings.
i have need full detail of tds rules and forms submitted dovetails
what is general HR?
Please suggest the manual records needed to be maintained at NGO/CBO to record the transactions of accounts & inventory. Please also mention the need & purpose of each records/books
You are required to show the effect of each of the following changes on profit and Break-Even-Volume from the information given below: Sales 50,000 units Rs. 5.00 per unit Variable cost Rs. 3.00 per unit Fixed cost Rs. 70,000 Changes: (i) Price changes by 20%. (ii) Volume decreases to 40,000 units. (iii) Variable cost increases to Rs 3.50 per unit. (iv) Fixed cost decreases by 10%.
can i have practical examples of AS-30
what is the cost and financial accounting? what is double entry system ?
tell me about a time you had to deal with a conflict between a licensed and unlicensed personnel and how handled the situation?
plz send me the apptitude question papers of wipro
im preparing for the sbi clerical post please send me the solved questions.
business sepsarate entity concepts
What are the steps involved in converting the trail balance of a foreign branch? Explain the steps involved in incorporating the foreign branch trail balance in HO books
My balance sheet is tallied. But there is a difference of RO 1 in cash flow. How to adjust ?