Answer below questions and predict your rank
  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

How do I calculate TDS/TCS?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

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2 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

TDS/TCS is to be deducted as per the provisions of Income Tax Act, 1961. Following Links will give the details.: The rate at which TDS/TCS is to be deducted/collected The sections which are applicable and other details for deduction/collection of TDS/TCS.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Gautham, since u r not specific on TDS/TCS on which services or items, I can answer u only generally. Income tax provides for the specified amounts which is the set limit for TDS calculation. If the amount of payment exceeds the limit, then only TDS has to be deducted. But remember, this limit is just decisive on TDS to be deducted or not i.e. if amount of payments exceeds the specified limit as given in the section even by Re. 1 then, TDS has be deducted on the whole of the amount. The rate at which TDS has to be deducted has been specified. So after deciding carefully, in which category the case falls, TDS should be calculated. Exactly same concept applies to TCS except where receiver of the amount has to collect tax from the payer.

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