What is the difference between TDS and TCS?
- 24 Answers
- 118658 Views
- Godrej, SSK, TCS, I also Faced
- E-Mail Answers
Answer Posted / jaiveer singh rawat
TCS is the tax levied on goods which is specified under section 206C of the income tax act 1961.(at the time of purchase of goods).
TDS is the tax levied on services.at the time of making payments of service such as salary,rent,professional fees commission on lottery tickets etc.....
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
a x company deduct tds against our bills so how i entry this type of transaction in talyy 9.0 ?
what is the procedure for Delhi WCT payment , we have a registered office at mumbai and we have a branch at delhi for that renovation we have deducted WCT ,we have ur VAT and CST no for delhi branch do we need have additional registration for this payment
Please advise where to enter Income tax paid to Govt. in tally and on which head account to be created///
Our Company dedduct TDS on the collection charge and claim (rate diff claim, scheme claim, collection charge means , if any party take material directly form our store our company give them frieght charge and deduct tds@10.30%). my question in what category of this type of TDS decution ? is it payment to contractor or what ?
Dear Experts, Please advice, what are the rate of WCT , and is it differ from individual to companies in case of deduction ( if i am the deducting person)
Who are non resident?
What is FBT? Is there any fixed rate of tax for all? or slab rate? pls give the detailed answer with examples. My e- mail ID: vijji_tv@yahoo.com
If concern supply garments from outside purchase to movie producer for their production then is it maintain Service Tax if yes then how and at first what steps I have to take?
Service tax applicable or not for Govt Guest House contract work.
What are Excise Duty rates for Fin.Year 2009-10 for Pesticides and Chemicals Industries.
HOW TO FILE RETURN- SALARIED PERSON GETTING SALARY 6 MONTH FROM ONE & 6 MONTH ANOTHER COMPANY
What is c.s.t slab on furniture & fixture ?
If we use google licence in our office for one year.Google raised invoice annualy. so that on which section tds will be deducted.
What is the date of depositing entry tax and submission of return?
Q.No.1) I paid Salary to our staff after deduction TDS. what is the journal entry pass at that time of payment of salary only, and then at the time of payment of tds. and the last date for payment of TDS Q.No.2) Suppose I paid Salary In advance due to that officer is take business tour at the end of the month in after deducting TDS. Now What is the journal entry Salary Advance & Payment of TDS. and when i will pay TDS for This Situation. Kindly Help me
