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hi siva let me clarify tds is a part of income tax, here the tax deducted from your income beforehand and is paid to govt. by the deductor on your behalf hope this is clear
hi siva,
TDS - Tax deduction at source.
Income tax can be anything(salary, from business, commercial build, house rent etc).
But TDS is
examples are below.
1. If you are getting the salary from a company more than1.5 lakhs, after making the exemption, calculating the taxable income and cut the tax amount from the salary at source and paid is called TDS on salary.
2. Like wise, when u sending the commercial rent bill, the shop owner or the authority will pay the rent by deducting the TDS of 20.6% as company and 15.4% as non company.
I feel you will get some idea right now.
other than salary, some other rent, income from shares, in from fixed deposit, income from selling of goods taken all togather and sit with auditor for income taxation, pay remaining tax by subracting salary TDS deducted from the company,pay b4 31st of march and file the returns in the may.
tats it
From India, Bangalore
TDS - Tax deduction at source.
Income tax can be anything(salary, from business, commercial build, house rent etc).
But TDS is
examples are below.
1. If you are getting the salary from a company more than1.5 lakhs, after making the exemption, calculating the taxable income and cut the tax amount from the salary at source and paid is called TDS on salary.
2. Like wise, when u sending the commercial rent bill, the shop owner or the authority will pay the rent by deducting the TDS of 20.6% as company and 15.4% as non company.
I feel you will get some idea right now.
other than salary, some other rent, income from shares, in from fixed deposit, income from selling of goods taken all togather and sit with auditor for income taxation, pay remaining tax by subracting salary TDS deducted from the company,pay b4 31st of march and file the returns in the may.
tats it
From India, Bangalore
DEAR SANAJAY,
God bless u.
first u must understand that any income is taxable as per the rates decded by the government every year in the finance bill. it is irrespective of type or source of income. it applies to every individual and is to be paid either as advance tax ( in case of a enterprise by the owner) on completion of 6 months and final tax on on before 31 march. the return is to be filed of the finaicial year before 1 jul or date specified by the government.
TDS Tax deducted at source is the anticipatd amount that an individual has to pay in respect of one's income and is deducted by the payer ( who can be an employer or hirer of service or any one who gives the money to an individual as a consideration for work) and is deposited into the treasury. IT IS THE RESPONSIBLILITY OF THE EMPOLOYER TO DEDUCT AND PAY THE AMOUNT OF TDS BEFOE MAKING PAYMENT TO THE INDIVIDUAL. now a days non recovery and payment of tds is is a punishable offence.
blessings
dr ram
From India, Indore
God bless u.
first u must understand that any income is taxable as per the rates decded by the government every year in the finance bill. it is irrespective of type or source of income. it applies to every individual and is to be paid either as advance tax ( in case of a enterprise by the owner) on completion of 6 months and final tax on on before 31 march. the return is to be filed of the finaicial year before 1 jul or date specified by the government.
TDS Tax deducted at source is the anticipatd amount that an individual has to pay in respect of one's income and is deducted by the payer ( who can be an employer or hirer of service or any one who gives the money to an individual as a consideration for work) and is deposited into the treasury. IT IS THE RESPONSIBLILITY OF THE EMPOLOYER TO DEDUCT AND PAY THE AMOUNT OF TDS BEFOE MAKING PAYMENT TO THE INDIVIDUAL. now a days non recovery and payment of tds is is a punishable offence.
blessings
dr ram
From India, Indore
hello, can anyone give me details about the taxation benefits as i am designing the salary structure for my company.It should be tax friendly. Reg Vinod
From China
From China
hi, would like to know whether special allowance is having some different heads. ? Reg Vinod
From China
From China
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