Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / tax beginner
Hi
TDS - Tax Deducted at Source
In simplest terms
This is the amount that a company deducts while making
payments. E.g. Vandor payments ,Salary payments for Staff
(to name a few). The company has the obligation to remit
this amount to Government on behalf of vendors,employees
etc.
TCS - Tax collected at Source
In some transactions the Remittance to Government becomes
the responsibilty of the Seller, e.g. Scrap Sale in this
case the Co. collects Tax from Buyer and remits to
Government.
| Is This Answer Correct ? | 10 Yes | 0 No |
Post New Answer View All Answers
'A' is running a manufacturing set up. 'B' sends raw material (after paying CST) to 'A' for manufacutre of his specified product and 'A' keeps 'B's stock in his godown. Can 'A' buy this material from 'B' by raising a CREDIT MEMO and in the books regularises by passing Journal Entry Dr.Raw material inventory and Cr. 'B's Account.
What are the basic and additional conditions for resident and ordinarily resident (ror)?
we are getting materials from outside the state and issuing form c to a local party, since the local party is consignee agent of party who sends the materials. what is name this type of transaction? is issuing form c correct and proper? please reply
when we want bought a new asset (for ex. car)how we calculate our income with the eye of income tax
F FORM RECEIVED FROM SUPPLIER, NOT DEDUCTED GOODS RETURN AMOUNT THEREAFTER WHAT IS THE PROCEDURE DONE BY DEALER?
If the the material sent for job work in outside state for job work ,what should be service tax chargeable or not if material receipt after job work done to job worker kindly suggestion
Need of Bank Reconciliation to a company
Why service tax payable is not considered while calculating Wct Tds.
How calculate Rent income exemptions from taxable income under income tax act.isnn't 30% of total income???? plz explain with example?
How many heads are there under total income? Name them.
How to calculate rental exemption if HRA is not given seperately and what will be the maximum allowability and under which Section of Income tax
sub hadding no. scrap & Wastage in corrugated box
WHAT IS DEFERRED TAX LIABILITIES.AND WITH EXMPLE DEFERRED TAX ACCOUNTING?
what difference in motvat & cenvat? and why this prepared?
Can you please provide me the present VAT precentages in Andhra pradesh and other states CST persentages with good's wise.
