what is tds
TDS
Page no : 2
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 29 December 2009
TDS is the short form of TAX DEDUCTED/DEDUCTION AT SOURCE
As the name suggest, the tax is deducted on a particular income at the source of the income itslef.The asessee gets the income after the tax is deducted.
Bharat Khurana
(Student)
(153 Points)
Replied 29 December 2009
no partners salary is taxable under the head of profit and gains from business & profession. So Tds is not applicable on payment made to partners on account of salary
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 02 January 2010
Dear Pramod,
It was my mistake.The section is 192 (TDS on salaries) and the code is 92B.
GANGA SHAHI RAI
(ACCOUNT INCHARGE)
(23 Points)
Replied 17 February 2010
Dear Fatema,
On which amount TDS is applicable on salary?
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