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Please help me on tds

DINESH (ACCOUNTS MANAGER) (131 Points)

13 July 2013

Please help me... I want to know.. what is the difference between TDS under DVAT and TDS under Income Tax???????

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2 Replies

Rajesh M Patel (CA Student) (54 Points)
Replied 13 July 2013

visit this page

/experts/tds-on-dvat-2-and-wct-49011.asp

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Yogesh Badoni (Asst. Manager- Compliance) (31 Points)
Replied 13 July 2013

TDS (WCT) represent TDS under VAT which is applicable on every works contract being a special type of transaction (Not ordinary Sale or trading ) advance VAT has to be deducted and deposited by the awarder /contractee

TDS(IT) represent TDS under Income Tax wchch is applicable on diffrent deductees falling under various services like , income from profession, contract, Rent, Fee, etc,

The perpose of the both to secured and collect the revenue in advance for the State Gov and Central Govt respectivly.