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TDS is Tax Deduction at Source which is deducted from the service holder/ consultant during payment. At present, TDS is 10.1%.
Service tax is a tax payable on the service provided by the service provider, at present it is at 12.36%
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∙ 12y ago
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What is the difference between service tax and sales tax?
Service Tax is levied by service organisation like hotels whereas sales tax is added to the cost of goods and collected when goods are sold. Both are collected by the Govt.
Is TDS a Direct Tax or Indirect Tax?
According to me tds is indirect tax because the concept of indirect tax is the tax is implement on that person is not liable to pay tax its burden is transfer to another person and who is liable to pay ta
What is the difference between tax invoice and commercial invoice?
A tax invoice is usually issued to an individual and would include the proper taxes for the service provided. A commercial invoice is issued to companies that are tax exempt.
What is check name for TDS payments?
Tax deducted at Source
What is tds in bank?
TDS Stands for Tax Deducted at Source. Banks usually deduct TDS when the interest they give to their customers against their deposits crosses a certain amount. The interest is considered an Income and has to be included in your net annual income while you file your income tax returns. If your interest is more than Rs. 10000 in a year, the bank themselves can deduct TDS and remit it to the Income Tax Department.
What is the meaning of vat tds service tax excise?
Tds means TAX DEDUCTIONS AT SOURCE
What is the method of calculation TDS in salary?
Tds deducated on basic amount only not on service tax
What is tds rate on photography service?
The TDS rate on any photography service is 10%. This tax amount is required to be deducted at the source.
How many taxes are there in India?
service tax , income tax, sales tax, tds tax, excise tax & other taxes
How do you include TDS Service tax when finalizing accounts?
TDS on part of Accounts payable is entirely different. when we deduct the TDS from payments, we have to remit the same to govt by 7th of next month with out any fault. where as service tax is claimed as input (AP point of view) and will be in receivables (assets)
What is the difference between service charges and service tax?
Sorry i dont know
Tds is direct tax or indirect tax?
TDS means Tax Deducted at Source.....deducted by employers usually
Have to deduct tds on Service Tax while making party payment?
TDS has to be deducted based on the TDS Rates provided for different nature of transactions like 2.266% for contractors, 1.133% for subcontractors and advertisement contracts, etc., TDS is required to be deducted on the Payment being made / amount credited to the party account. for example Consultancy service chages are Rs.1,00,000/- Add : Service Tax @ 12.36% Rs. 12,360/- Totaling to Rs.1,12,360/- Rate of TDS 11.33% on Rs.1,12,360/- amounts to Rs. 12,730/-
What is the difference between service tax and sales tax?
Service Tax is levied by service organisation like hotels whereas sales tax is added to the cost of goods and collected when goods are sold. Both are collected by the Govt.
What is the difference between income tax and service tax?
Income tax is the tax that is charged to your income that can be paid with the preparation of tax forms or is withheld from your paycheck. Service tax refers to the tax that is charged for services, like care repair.
Is TDS a direct tax or an indirect tax?
TDS means tax deducted at source. It is employer's duty to deduct tax at source otherwise govt. may take action. It is a direct tax.
What is the rate of tds?
TDS Means Tax Deduction At Source .... Tax is the applicable Rate is to be deducted from the salary from the employee at the time of paying/ crediting the salary.... TDS rate is Depending on Basic amount ...
