TDS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 May 2011
WHY WE PAY TDS TO GOVERNMENT ? IN SIMPLE LANGUAGE CAN ANYONE SAY THIS. IN SHORT WHAT IS TDS ?
21 May 2011
Government introduced the concept of TDS to ensure regular flow of fund to the Government. The same concept follows in the case of Advance Tax also.
21 May 2011
Tax deducted at source is one of the modes of collecting Income-tax from the assessees in India. Such collection of tax is effected at the source when income arises or accrues. Hence where any specified type of income arises or accrues to any one, the Income-tax Act enjoins on the payer of such income to deduct a stipulated percentage of such income by way of Income-tax and pay only the balance amount to the recipient of such income.
The concept of TDS is also used as an instrument in enlarging the tax base.
Some of such income subjected to TDS are salary, interest, dividend, interest on securities, winnings from lottery, horse races, commission and brokerage, rent, fees for professional and technical services.
The concept of TDS is also used as an instrument in enlarging the tax base.
Some of such income subjected to TDS are salary, interest, dividend, interest on securities, winnings from lottery, horse races, commission and brokerage, rent, fees for professional and technical services.
22 May 2011
Also read article from below link for more information---
https://www.caclubindia.com/articles/all-you-want-to-know-about-tds-7882.asp
https://www.caclubindia.com/articles/all-you-want-to-know-about-tds-7882.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- RCM - commercial rent paid to URP under GST
- SEC 54 OF IT ACT
- Form 26QB for TDS on property
- GST Annual Returns filing due date
- Gst Sales of FY 2023-24
- Payable outstanding for years disallowance
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Need help with business structure for setting up a new business
- TDS applicability on Service through ECO
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
