Need A Financial Product Forums Tax Savings What is TDS? Is TDS relevant for an Individual as a businessman?

This topic contains 1 reply, has 2 voices, and was last updated by  Ashwini Pal 3 years, 3 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #47342

    Ashwini Pal
    Member

    What is TDS? Is TDS relevant for an Individual as a businessman?

    #47343

    TDS or Tax Deducted at Source is the amount which is withheld from payments of various kinds such as salary, contract payment, commission etc this withheld amount is adjusted against an individual’s tax due. If an individual is a businessman then even for him the TDS is relevant. The payments made to an individual as a businessman can be made after the deduction of TDS. This can finally be adjusted against one’s final tax liability. If an Individual as a businessman is making business payment he /she requires to deduct TDS from that payment otherwise entire expenditure will be disallowed as his/her business expenditure and taxed as their income.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.

About Us

Simplypaisa, a web initiative by Elite Wealth Advisors Ltd, has the primary objective to help readers make smart financing decisions. What is smart finance? How to make smart financing decisions to procure assets or to meet one’s personal needs? Information is critical to make smart financing decisions: be it to purchase your dream house, a car, to start a business or to enable an entrepreneur to meet his/her working capital needs.Read More...

GET IN TOUCH WITH US

Elite Wealth Advisors Ltd.
S-8, DDA Shopping Complex,
Near Jeevan Anmol Hospital,
Mayur Vihar Phase-1, Delhi-110091.
Phone No: 011-42445800
Email : connect@simplypaisa.com

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.