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What Is TDS?

WHAT IS THE MEAN BY TAXATION? LIKE, TDS,SERVICE TAX, VAT ETC.?

  • How have to creat TDS on transporter? wat is the limit of tds deduction? I have a transport co. his charges approx Rs.35000. for half a month, then what will be the provision of TDS? is he caoms for TDS Deductin?

  • Answer:

    Tax is deducted when a payment is made to the transport contractor. Presently, no tax needs to be deducted from a transport contractor's payment provided they have submitted the Permanent Account Number (PAN) to you. Otherwise the TDS rate is 20%. Better ask your transporter to give you their PAN details to avoid the TDS and if they fail to do so, deduct @ 20% of the payment value.

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Your tds was 2% of u r payment. And if u wont given PAN number to that person ur Tds going to 20%. In simple wordsTDS is a tax deduct at source i.e.,tax will be deducted and it will collected the govt of ur a/c when the payment made. And finally when u fill u income tax return ur income and tax calculated then tds minus from the total tax. Service tax is a tax on service i.e, 2% on each service. VAT is a tax on goods.. And these is not to u it will levy on salers. -CA KIRANKUMAR details: kirankumar9208@yahoo.com

Kiran kumar reddy Katam

IT MEANS THAT A TAX CAN BE IMPOSSED ON PRODUCTS THAT YOU`D PURCHASE !!! & or the ACT OF HAVING TO PAY A TAX ON SAY A POSTAGE STAMP !!?!! But thanks to an ACT/law !?! of Lo0ONg ag0 If you feel you are being taxed wrongly you have the right to have a second party at your side !?! for instance A Lawyer to help you better understand this whole process !!! & that act of long ago in`which i spoke of we've all learned about in school !!! "NO TAXATION WITHOUT REPRESENTATION" <--- I'd say that's been `round since about the times that the MAYFLOWER sailed !?!. ;-{} r"R"r;a;wWwrRr`,'.`',.

A Leo _n_ OH@yahoo.com

At present no TDS is deductable from Transporter if he provide his PAN to freight payer. In other case TDS is deductable at the rate of 20% on each payments.

SANTOSH KUMAR

tax

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