What is the difference between a TDS and an income tax?
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Answer Posted / ravindra
"T.d.s means tax deducted at source from the salary "
"income tax is a direct tax which is paid to the govt on
the income earned by the assesse for the relevent assesment
year"
the expenses is of two types
1.allowable exps 2 dis allowed exps
out of total income earned by the assesse in previous year
the income of an assesse can be defined after considering
the allowable exps in to consideration the income of the
assesse - allowable exps can be regarded as income tax
payable to the dept on slab or flat basis
"if any modifications pls be free to post new answers thank
you"
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