Hi guys 👋 in this blog let's see how to deduct  the tax amount  that we are paying this is part 2
The pair should file quarterly statement as well as an annual return act prescribed for having detected and paid tax from the previous here 2010 to 2011 where the recipe and of the income does not furnished pan then tax has to be deducted at 20% TDS on the amount paid to the contractor is at 2 percentage suppose if the contractor does not have furnish than TDS will be 20% instead of the said to percentage the rate specified in various section is the direct rate this means that such a education need not be added to the said rate however in the case of salaries and payment to non resident should be added where a person fails to detect tax at source or fail to fail detector pack into the government accountant she will be considered he will be liable for tax interest and penalty according to Section 2001 under 1 Where are person whose responsible to detect tax has not detected or fail to pay the detected tax into the central government account or short pay then associous considered as associate in default before proceeding to various provisions of the tax detection are source let us exploit the term credit to person account if American tile system of accounting is followed we pass entry has and when expenses a cure and not when it is paid this block specified that has to be detected either at the time of payment or at the time of credit with server is earlier example audit fees for the year will be accounted at the time of the year I sub provision outstanding this feel my be paid on a later date according to TDS provisions the assassy is liable to detect Tax at the time that provision entry is created and not at the time of payment another example for the whole of the year in the case if TDS liability such then the same will be at the time of payment and not when it to repeat the provision tax has to be deducted either at the time of payment or credit which have a layer however salary will only be on time payment basis not accurable bases all provisions of section 194 or applicable for an individual of h u f only if their gross turnover in case of business exceeds Rs 1 crore or gross receipt in case of professions exceed Rs 25 lakh in other words we can understand this as tax deduction 
 

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