what is the diffrence between tds and vat?
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Answer Posted / swatinerkar
TDS is a direct tax & VAT is a indirect tax.
DS is any amount paid by way of
salary,fees,commission,Rent,interest,etc is taxed at the
time of payment by the sourceThis is referred as tax
deducted at source.
VAT is the tax levied to the material in the process of
making the final good or product.Sine tax is levied only on
the value added to the product and not on the whole
material. It is referred to as Value Added tax.
TDS is a direct tax,whereas VAT is an indirect tax.
Some goods are exempted to VAT but there is no exemption to
TDS
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