Please help me on tds

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ACCOUNTS MANAGER
131 Points Posted on 13 July 2013
Please help me... I want to know.. what is the difference between TDS under DVAT and TDS under Income Tax???????
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On 13 July 2013 at 00:29 Report
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CA Student
54 Points Posted on 13 July 2013

visit this page 

/experts/tds-on-dvat-2-and-wct-49011.asp

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On 13 July 2013 at 11:08
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Asst. Manager- Compliance
31 Points Posted on 13 July 2013

TDS (WCT) represent TDS under VAT which is  applicable on every works contract being a special type of transaction (Not ordinary Sale or trading ) advance VAT has to be deducted and deposited by the awarder /contractee

TDS(IT) represent TDS under Income Tax wchch is applicable on diffrent deductees falling under various services like , income from profession, contract, Rent, Fee, etc,

 

The perpose of the both to secured and collect the revenue in advance for the State Gov and Central Govt respectivly.

 

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On 13 July 2013 at 20:35

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