Tds
This query is : Resolved
01 July 2014
Please explain giving an example what is TDS and how is it calculated? Please explain fully the whole concept of TDS.
01 July 2014
TDS is tax deducted at source
.
.
Why it is introduced?
generally assesse will pay tax only after completion of financial year
.
.
which incurs cost of funds to govt..hence they introduced TDS for some of expences
.
.
while making payments against those expences TDS should be deducted and paid to govt
.
.
for tds deducted deductor have to file tds return to give credit of tds deducted to their pan numbers
.
.
same will be adjusted against tax payable while filing of returns of assesses
.
.
just do google u will get what and all you need
.
.
Why it is introduced?
generally assesse will pay tax only after completion of financial year
.
.
which incurs cost of funds to govt..hence they introduced TDS for some of expences
.
.
while making payments against those expences TDS should be deducted and paid to govt
.
.
for tds deducted deductor have to file tds return to give credit of tds deducted to their pan numbers
.
.
same will be adjusted against tax payable while filing of returns of assesses
.
.
just do google u will get what and all you need
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