Published by Nyasha Technology | Tax Made Simple
đź“Ś Introduction
Is there any correlation between TDS and GST? If not, then what is the purpose of using them? In dono ko, students confuse the card with business owners and students. What does this mean? Agar aap bhi disjointed ho, to chinta mat karo. My blog is very short, but I am uncertain if I can learn basic difference and simple language.
🔍 What’s TDS?
TDS is the tax deduction from the source of income. Payment of salary, rent and commission (e.g, money received from employees) is considered a “highly effective” method of handling the payment. However, what percentage of government’s share does this mean?
To give an example, agar hai yielding approximately 50,000 per month on rent, but up to 5,000/month for tenants.
The TDS deductible kart is equal to the difference between the government deposit and total amount, which is equivalent to 45,000 in interest.
đź’° What’s GST?
Is it possible to claim products and services under GST through indirect tax? “I made a transaction by adding hota hai aur seller usse karta me na sim poi ho asses?”.
If you are looking for an example, consider Aapne ek service with 10,000-ki and 18% GST (1,800) plus hoga.
Total â‚ą11,800 pay karna padega.
⚖️ Key Differences at a Glance
| Factor | TDS | GST |
|---|---|---|
| Types of Tax | Direct Tax | Indirect Tax |
| Who Pays? | Deductor(on behalf of payee) | End Consumer |
| When Applied? | At the point of income/payment | At the time of Sales/services |
| Objective | To prevent tax evasion | To unify tax structure |
| Filing | Monthly/Quarterly return | Monthly return + Annual return |
🤔 Still Confused?
Like someone stealing your money, TDS takes it from you. Why?
Tax that is added to a product/service purchase is comparable to GST. The act is enforced by customs law.
âś… Final Words.
While both TDS and GST are crucial components of India’s tax system, their functions vary greatly. I am working on my business plan, but despite the fact that it is not in line with Samajhna’s standards, I still have concerns. My problem is that I do not understand their significance and only want to make an effort to be as visible as possible.
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