RE: What is the meaning of TDS? How it is charged?
Tax Deducted at Source(TDS). And its charged on the Base price. Different for Salaraied Income. And rest Income Tax department has chart to charge the TDS in different kind of Income.
RE: What is the meaning of TDS? How it is charged?
Presently this concept of T.D.S. is also used as an instrument in enlarging the tax base. Some of such income subjected to T.D.S. are salary interest dividend interest on securities winnings from lottery horse races commission and brokerage rent fees for professional and technical services payments to non-residents etc.The w'll be differ from the services
RE: What is the meaning of TDS? How it is charged?
TDS is tax deducted at source. It is of different type.
1) TDS on salary has to be deducted on salary paid to employee by employer if it crosses the tax limit. And pay to the government on or before due date.
2) In case of TDS on contractors or profession or others there is slab that min tax surcharge plus education cess plus higher education cess it is different and finance minister may change or keep same or remove in every year budget. Secondly you can deduct the TDS on bill amount while paying or if advance is paid.
RE: What is the meaning of TDS? How it is charged?
Tax deducted at source is tax charged by the customer who gets the services from Vendor or supplier. Here Customer is responsible to charge it and pay to the government.
There are different types of TDS rates are available on the basis of different services under different section. E.X:- professional services salaries.
