Tds
This query is : Resolved
Aradhana Tiwari
(Querist)
01 July 2014
Please explain giving an example what is TDS and how is it calculated? Please explain fully the whole concept of TDS.
Ganeshbabu K
(Expert)
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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