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Vat tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 August 2011 Pls define vat tds .what it is ?
give an idea about that ?

reply me at the earliest
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
23 August 2011 VAT tds is the tax deducted at source concept in VAT act. this mechanism is same like Income tax TDS. this basically applicable for contractor basis dealer, the contractee who give contract required to deduct VAT-TDS on payment making to contractor as rate prescribed by state VAT act, and pay to the department and issue the TDS certificate to contractor as prescribed form by VAT act.the same TDS can be adjusted with the monthly VAT payment by contractor
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Querist : Anonymous

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Querist : Anonymous (Querist)
24 August 2011 thank you Mr ramesh
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