About tds

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bapugouda

bapugouda (Querist)
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15 November 2011 Can give brief information about TDS?

Battu

Battu (Expert)
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16 November 2011 TDS is tax deducted at source, while making payment/advance to vendor, it has to be deducted at applicable rates based on threshhold prescribed the act

Generally it is applicable to salaries, rent,contracts, commission, intrest and professional fee

If TDS deductable but not deducted and TDS deducted but not paid then it a disallowable expenses as per it act

bapugouda

bapugouda (Querist)
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16 November 2011 Thank you sir can you give example about TDS

CA pooja gupta

CA pooja gupta (Expert)
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05 December 2011 example u/s 194C(TDS on Contractor):-
x company made contract with y for food arrangemnts and pay rs. 100000/- p.m. X co. has to deduct TDS on it @1%(if individual or HUF) and 2%(if Company), which is Rs. 2000/- in that case.

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