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Sivakumare
1

Can any one guide on difference between TDS & Income tax
From India, Delhi
vikramjain1501
hi siva let me clarify tds is a part of income tax, here the tax deducted from your income beforehand and is paid to govt. by the deductor on your behalf hope this is clear

vishakaguru
2

hi siva,
TDS - Tax deduction at source.
Income tax can be anything(salary, from business, commercial build, house rent etc).
But TDS is
examples are below.
1. If you are getting the salary from a company more than1.5 lakhs, after making the exemption, calculating the taxable income and cut the tax amount from the salary at source and paid is called TDS on salary.
2. Like wise, when u sending the commercial rent bill, the shop owner or the authority will pay the rent by deducting the TDS of 20.6% as company and 15.4% as non company.
I feel you will get some idea right now.
other than salary, some other rent, income from shares, in from fixed deposit, income from selling of goods taken all togather and sit with auditor for income taxation, pay remaining tax by subracting salary TDS deducted from the company,pay b4 31st of march and file the returns in the may.
tats it

From India, Bangalore
rhinoramanan
158

DEAR SANAJAY,
God bless u.
first u must understand that any income is taxable as per the rates decded by the government every year in the finance bill. it is irrespective of type or source of income. it applies to every individual and is to be paid either as advance tax ( in case of a enterprise by the owner) on completion of 6 months and final tax on on before 31 march. the return is to be filed of the finaicial year before 1 jul or date specified by the government.
TDS Tax deducted at source is the anticipatd amount that an individual has to pay in respect of one's income and is deducted by the payer ( who can be an employer or hirer of service or any one who gives the money to an individual as a consideration for work) and is deposited into the treasury. IT IS THE RESPONSIBLILITY OF THE EMPOLOYER TO DEDUCT AND PAY THE AMOUNT OF TDS BEFOE MAKING PAYMENT TO THE INDIVIDUAL. now a days non recovery and payment of tds is is a punishable offence.
blessings
dr ram


From India, Indore
vinod_vyas
hello, can anyone give me details about the taxation benefits as i am designing the salary structure for my company.It should be tax friendly. Reg Vinod
From China
vinod_vyas
hi, would like to know whether special allowance is having some different heads. ? Reg Vinod
From China
maheshjj
Income Tax is your own tax liability and you are depositing it against your tax liability. While TDS is a tax deducted from income payments to third person and you are depositing it against the tax liability of that 3rd person.

mumbai2008@gmail.com
Dear All Can you throw some more light on this as i m confused bit we in sal pay PT ie Professional Tax whats that what is use of Pan card Can u pls solve my query Thanks & regards Shruti CMS HR
From India, Mumbai
maheshjj
Professional tax is the tax payable on salary goes to State Govt., the maximum amt may be Rs. 200/- pm or Rs. 300/- PM while Income tax goes to central govt. and it is percentage on your total income. Payment of Income tax is controlled through number alloted through PAN card

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