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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/-
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What is the definition of a 'payor'?
A payment is the transfer of wealth from one party (such as a person or company) to another. A payer is the party making a payment. The payee is the party receiving the payment.
What is the meaning of TDS in bank sector?
TDS refers to Tax Deducted at Source. In regard to certain incomes, government makes it mandatory to deduct a certain amount of tax by the person who is making payment to other party. For example, while making rent payment by the tenant to the landlord, tenant may be required to retain a certain amount of rent payment as tax (TDS) and deposit the same with the government.
What is the party called responsible for payment an obligation?
The debtor is the party responsible for payment obligation on an account.
What is on behalf payment?
On behalf payment refers to a financial transaction where one party makes a payment on behalf of another party, often to fulfill a financial obligation. This arrangement can occur in various contexts, such as a parent paying a bill for their child or a company covering expenses for an employee. The party making the payment typically seeks reimbursement or has prior authorization to settle the debt. It is important to document such transactions to maintain clear financial records.
How can I add funds to my credit card?
You can add funds to your credit card by making a payment through your bank's online portal, mobile app, or by visiting a branch. You can also set up automatic transfers or use a third-party service to add funds to your credit card.
How can I add money to my credit card?
You can add money to your credit card by making a payment through your bank's online portal, mobile app, or by visiting a branch. You can also set up automatic transfers or use a third-party service to add funds to your credit card.
Who is the drawer of a third party check?
the party to whom payment is to be made
What is the definition of a customer?
A customer is a person or party who receives a service or product in exchange for a payment of some sort. Customers may also be referred to as clients, buyers, or purchasers.
How can I load money onto my credit card?
You can load money onto your credit card by making a payment through your bank's online portal, mobile app, or by visiting a branch. You can also set up automatic transfers or use a third-party service to add funds to your card.
Can another party make a loan payment for you?
Yes
If you put a stop payment on a check because a dsipute over service delivered can the other party send the bill to collections or the police department without any investigation or recourse?
Did you receive the service? Did you sign an agreement? If so, you may want to check the fine print because there could be a clause for a remedy if you take such action. If you did not receive the service and there is no clause, you are well within your rights to stop payment.
If you cosign a student loan can you deduct the interest if the first party does not?
http://www.ird.gov.hk/eng/faq/ctr.htm#item5 I doubt it.
