Regarding TDS

This query is : Resolved

Share Report Follow Query Ask a Query

CA Anil Jain

CA Anil Jain (Querist)
Follow

08 January 2008 When TDS is basically Advance Tax,Why different rates are there in various Section?

CA. Vineet Grover

CA. Vineet Grover (Expert)
Follow

09 January 2008 Hi Anil,

There is no concept as advance tax under TDS. If its advance tax then I feel one is manipulating with TDS. The basic concept of TDS is that the same shall be deducted at the time of credit or payment which ever matures earlier.

The rates of TDS has been defined by the Income Tax Authority based on the various nature of work.

Rgds/
Vineet

CA Anil Jain

CA Anil Jain (Querist)
Follow

09 January 2008 I am totally agree you that the same shall be deducted at the time of credit or payment which ever matures earlier.
But why the Different Rates are imposed when at last at the time of submitting the return all income is to be taxable @ the Slab rate.

CA. GOPAL SONIKA

CA. GOPAL SONIKA (Expert)
Follow

28 February 2008 As the income is earned from various sources the I.Tax payment has to be made accordingly. A person earning salary will not agree to making payment of tax levied for corporates. Similarly TDS has to be deducted based on the nature of services.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now