Answers!
- Deductor is the person who deducts tax at source (ABC)
- Deductee is the person whose tax was deducted.(Max)
Duties of Deductor
- Deduct TDS
- Deposit TDS
- File TDS Return
- Issue TDS Certificate
Duties of Deductee
- Issue Bill
- Collect payment
- Collect TDS Certificate
- Check TDS Deducted Online
- Adjust TDS with his Income Tax Liability while filing ITR
Difference between Income Tax and TDS
Income Tax
TDS
When we deposit our own Tax, it is called Income Tax
When we deduct some other person tax and deposit it, it is called TDS
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Answer the question...
- Deductor is the person who deducts tax at source (ABC)
- Deductee is the person whose tax was deducted.(Max)
Duties of Deductor
- Deduct TDS
- Deposit TDS
- File TDS Return
- Issue TDS Certificate
Duties of Deductee
- Issue Bill
- Collect payment
- Collect TDS Certificate
- Check TDS Deducted Online
- Adjust TDS with his Income Tax Liability while filing ITR
Difference between Income Tax and TDS
|
Income Tax |
TDS |
|
When we deposit our own Tax, it is called Income Tax |
When we deduct some other person tax and deposit it, it is called TDS |
Comment