Tds

Bala (Querist) 03 January 2013 This query is : Resolved
I want to know briefly about TDS and other indian taxes.

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ajay sethi (Expert) 03 January 2013
academic query. read income tax act

Bala (Querist) 03 January 2013
Do we have to pay TDS to Govt. for Works contract Tax as like rent, professional etc..

Guest (Expert) 03 January 2013
TDS is not a subject to be discussed in brief.

However, in brief, TDS denotes Tax Deduction at Source, which a person making payment has been made liable by the IT law to deduct tax at source out of the total payable amount before making some specific type of payment, e.g., salaries to employees, payment to contractors, etc., and thereafter remit the same to the Income Tax Department with complete particulars of the payment/ deductions.

Bala (Querist) 03 January 2013
Tks dhingra, now am working on TDS liablity calculation for Dec and one new scenario that TDS deducted for works contract Tax. do i need to add the same in my TDS payment this month.

Guest (Expert) 03 January 2013
Of course, you will have to add.

Raj Kumar Makkad (Expert) 04 January 2013
Such vast subject cannot be got learnt within seconds in these columns. Better to purchase some books on these vital and detailed matters.

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