TDS stands for 'Tax Deducted at Source'. It was introduced to collect tax at the source from where an individual's income is generated. The government uses TDS as a tool to collect tax in order to minimise tax evasion by taxing the income (partially or wholly) at the time it is generated rather than at a later date.TDS is applicable on various incomes such as salaries, interest received, commission received, dividends etc.
Whereas, VDS stands for 'Vat Deducted at Source'.VAT deduction at source (VDS) is a very important matter of today to all of them who are engaged in economic activities. VDS is one of the much talked about component of our VAT system. In our VAT system, input tax credit (rebate), export, audit, accounts are some other important components. Many of the organizations require knowing the rules and procedures regarding VDS to perform their activities specially procurement works smoothly and fairly.The basic principle is that VDS method is to be applied to such areas which are prone to evasion. A departure from this principle will result on the one hand in non-collection of VAT from risky sectors which.
In Implementation level, nitty-gritties cannot be understood by reading only the provisions of law. A proper training with valid explanation can clear the ideas on TDS and VDS.
You can learn to operate Tally software online.Tally is a ...Accounts & Finance
Professionals in every functional area need to understand ...Accounts & Finance
Outsourcing your accounting and bookkeeping is an ideal ...Accounts & Finance
This module includes All Features of New VAT LawAccounts & Finance
(15% VAT is applicable in every purchase.)
01811487982, 01847213994, 01844519337
Md. Arshed Ali
NBR Enlisted VAT Consultant
Md Arshed Ali has successfully completed M.com- Accounting and LLB & LLM ( Master’s in Law). Beside these he has successfully completed Chartered Accountancy Course from MS Alamgir & Company, Chartered Accountant. He is now the president of VAT consultant Association of Bangladesh ( VCAB) and enlisted certified VAT consultant of NBR as well as Income tax advisor. He is an architect of one of the NBR approved VAT software.
This is his passion to research on VAT and he has worked as a consultant of World Bank in developing the VAT and supplementary Duty Act – 2012 .
He is working on VAT management in Bangladesh since long and providing learned support on VAT to all concern along with related advice and training under various umbrella.
Over the last twenty five ( 25 ) years he is engage with a lot of hearing, preparation of ground for appeal, Response on VAT Audit and many more.
He is a regular trainer of VAT at the Bangladesh VAT Professionals Forum as well as corporate body.