What is tds? How I know practical handling work of tds. I live in kolkata.is there any practical work done by principal and I also help him.i know tally,word,Excel,sale tax.please provide me any job.
**TDS** TDS means Tax deducted at source. The concepts of TDS was introduced in the Income Tax Act 1961, with the objective of deducting the tax on income, at the source of income. It is one of the methods of collecting Income Tax, which ensures a regular flow of revenue to the government. **TDS Process** 1. Deductee (Seller) provides services and Bill to the Deductor(Buyer). 2. Deductor makes the payment after deducting Tax. 3. Deductor remits the TDS amount to the bank. 4. Bank(Treasury) remits the amount to the Government account. 5. Deductor issues Form 16A to deductee for the TDS amount deducted. 6. Deductor files the e-TDS to NSDL. 7. NSDL uploads the e-TDS information to Income Tax Department. 8. Deductee files the return with Form 16A to Income Tax Department.
Dear, Tax deducted at source (TDS), as the very name implies aims at collection of revenue at the very source of income. It is essentially an indirect method of collecting tax which combines the concepts of “pay as you earn” and “collect as it is being earned.” Its significance to the government lies in the fact that it prepones the collection of tax, ensures a regular source of revenue, provides for a greater reach and wider base for tax. At the same time, to the tax payer, it distributes the incidence of tax and provides for a simple and convenient mode of payment. The concept of TDS requires that the person on whom responsibility has been cast, is to deduct tax at the appropriate rates, from payments of specific nature which are being made to a specified recipient. The deducted sum is required to be deposited to the credit of the Central Government. The recipient from whose income tax has been deducted at source, gets the credit of the amount deducted in his personal assessment on the basis of the certificate issued by the deductor. It is better to work in CA firm where most tds work is there. It will give you much more better experience.
hello, **Tax Deducted at Source (TDS) is a means of collecting income tax in India, under the Indian Income Tax Act of 1961. Any payment covered under these provisions shall be paid after deducting prescribed percentage.It is managed by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue managed by Indian Revenue Service (IRS). It has a great importance while conducting tax audits. Assessee is also required to file quarterly return to CBDT. Returns states the TDS deducted & paid to government during the Quarter to which it relates..** ............................................................. you can work under any accountant, CA Firm. you can search areawise job by naukri.com, maonster.com, etc... There are many sites in India which can provide you the jobs related with accounts. Thanks & Regards