SERVICE TAX AND TDS
This query is : Resolved
04 March 2010
WHATS THE DIFFERENCE BETWEEN SERVICE TAX AND TDS?
HOW IS IT CALCULATE?
PLZ REPLY ME................
HOW IS IT CALCULATE?
PLZ REPLY ME................
04 March 2010
There is whole lot of different in Serivce tax and TDS
In short
Service tax is part of Finance Act
In service tax , generally the service provider of taxable service are liable to collect service tax on the taxable value from the service provider .
Service tax liability arise on recipt of Gross amount. For more on service tax refer 65 of fincane act.
TDS is part of Income tax Act
In TDS generally the person making payment is liable to deduct tds and deposit to government . Only certain expense are liable for TDS refer Section 192 - 196 of income tax
In short
Service tax is part of Finance Act
In service tax , generally the service provider of taxable service are liable to collect service tax on the taxable value from the service provider .
Service tax liability arise on recipt of Gross amount. For more on service tax refer 65 of fincane act.
TDS is part of Income tax Act
In TDS generally the person making payment is liable to deduct tds and deposit to government . Only certain expense are liable for TDS refer Section 192 - 196 of income tax
04 March 2010
Agree.good explanation
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