Tds deduction principle...urgent sir!!
This query is : Resolved
26 December 2011
Dear Experts,
Can anyone explain for what payment TDS will be generally attracted?
I just want to know the principle behind it so that i can understand it.
Thanks & Regards,
Rajesh.
Can anyone explain for what payment TDS will be generally attracted?
I just want to know the principle behind it so that i can understand it.
Thanks & Regards,
Rajesh.
sharma.ctc@gmail.com
(Expert)
26 December 2011
There are few categories of payment which attract TDS. For example contractors payment, interest, etc
26 December 2011
@ Sharma ji hawa me jawab de rahe ho kya? :p
Tax deducted at source is one of the modes of collecting Income-tax from the assessees in India. Such collection of tax is effected at the source when income arises or accrues. Hence where any specified type of income arises or accrues to any one, the Income-tax Act enjoins on the payer of such income to deduct a stipulated percentage of such income by way of Income-tax and pay only the balance amount to the recipient of such income.
Abhishek Ranjan Singh
ARS Solutions
email2ars@gmail.com
+91 9022838615
Tax deducted at source is one of the modes of collecting Income-tax from the assessees in India. Such collection of tax is effected at the source when income arises or accrues. Hence where any specified type of income arises or accrues to any one, the Income-tax Act enjoins on the payer of such income to deduct a stipulated percentage of such income by way of Income-tax and pay only the balance amount to the recipient of such income.
Abhishek Ranjan Singh
ARS Solutions
email2ars@gmail.com
+91 9022838615
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