Tds regarding

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B.S.P.KIRAN

B.S.P.KIRAN (Querist)
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21 December 2011 SIR

I WANT TO KNOW WHETHER TYRES RECONDITIONING INDUSTRY REQUIRES ANY TDS PL CLARIFY

KIRAN

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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21 December 2011 Please clearly draft your query. It is not clear what you want to ask.

TDS is one of the modes of collection of taxes, by which a certain percentage of amounts are deducted by a person at the time of making/crediting certain specific nature of payment to the other person and deducted amount is remitted to the Government account. It is similar to "pay as you earn" scheme also known as Withholding Tax in many other countries. TDS will be applicable based on nature of expenses.