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Tax deduction at source (TDS) has come into existence with the motive of collecting tax from different sources of income. As per this concept, a person (Payer) who is responsible to make payment of specified nature to any other person (Payee) shall deduct tax at source before making payment to such person (Payee) and remit the same into the account of the Central Government.
This is a list of abbreviations used in a business or financial context. ... AOP – Annual operating plan; AP – Accounts payable; ... For example, $225K would be ...
India enforces withholding tax also on payments between companies and not just from companies to individuals, under the Tax Deducted at Source (TDS) system. (Since April 2016, the United Kingdom has discontinued withholding tax on interest and dividends, though in some cases this income will become liable for taxation through other means). [ 8 ]
In India, tax is deducted at source by the banks on FDs if interest paid to a customer at any bank exceeds ₹ 10,000 in a financial year. This is applicable to both interest payable or reinvested per customer. This is called Tax deducted at Source and is presently fixed at 10% of the interest. With CBS banks can tally FD holding of a customer ...
The primary purpose of bookkeeping is to record the financial effects of transactions. An important difference between a manual and an electronic accounting system is the former's latency between the recording of a financial transaction and its posting in the relevant account.
It is the reference point for accounts payable when it comes to paying invoices. [8] In addition, most companies require a second signature on cheques whose amount exceeds a specified threshold. Accounts payable personnel must watch for fraudulent invoices. In the absence of a purchase order system, the first line of defense is the approving ...
acronym = an abbreviation pronounced as if it were a word, e.g., SARS = severe acute respiratory syndrome, pronounced to rhyme with cars; initialism = an abbreviation pronounced wholly or partly using the names of its constituent letters, e.g., CD = compact disc, pronounced cee dee
TD – target depth; TD – total depth (depth of the end of the well; also a verb, to reach the final depth, used as an acronym in this case [citation needed]) TDD – total depth (driller) TDC - Top Dead Center; TDC – total drilling cost; TDL – total depth (logger) TDM – touch-down monitoring; TDP – touch-down point; TDS – top drive ...