Interested to Buy Any Domain ? << Click Here >> for more details...
hi,i want to kow the difference between withholding tax and
service tax.what is the procedure of calclation of the
two.please help.its urgent.
- 2 Answers
- 10381 Views
- Wipro, I also Faced
- E-Mail Answers
Answer Posted / h.r. sreepada bhagi
Tax Deduction at Source (TDS) under any Tax law is also
referred to as withholding tax in some countries. In India
it's mostly referred to TDS under Income Tax Act, 1961. Tax
shall be deducted at source of payment (Either at the time
of credit to the payee's a/c or at the time of payment
whichever is earlier) at the rates prescribed in the Act
under various sections for different nature of payments -
For abstract details, refer Income Tax Ready Reckoner.
Service tax is leaved on the specified services at the
specified rates in the Service tax Act - For more
information refer Service Tax Act.
Both these taxes are payable to the Central Government in
India, by means of prescribed challans.
| Is This Answer Correct ? | 10 Yes | 1 No |
Post New Answer View All Answers
What is form c & d in sales tax?
what is the rule of TDS Deduction for Pvt Ltd Company ??? And What rule of not TDS Deduct for PVT LTD company ???
How do I get a C form with the bank Guarantee?
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
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.
what is excise
When and how Wct is applicable on Labour Job Work and what is the percentage?
if i paid interest on tds for ex:- tds deducted on rent for the month of april, may, june rs. 20000 each for month and tds paid on 7th july then i have to pay interest @ 1.5% for rs. 1200 , 900 , 600 respectively , so i wanted to know what is the entry for rising of this interest in accounting software other than tally
how to caluclate the central exicse duty? how to implemting in to tally ERP9?
Pls can you write briefly about procedure of Auditing of VAT, Service Tax and Central Excise?
What do u mean by sales tax and who are sales tax practitioner ?
how much TDS required in telecommunication services ? Any types of Telecommunication, provider or services receiver
what the procedure of filing mvat pls. explain in briefly ?
How can I Proceed to my client regarding Advertisement Bill as we are dealing in advertising agency and also clear us can we deduct TDS on their bill? For Example we receive a bill from The Sandesh Ltd. of Rs. 50000/- and they do not mention service tax in the bill. So, Kindly provide the Guidelines regarding This Problem.
How To fill vat, Tds, Service tax Return Form? Please Explain With an Example.
