Question

accountancy what is TDS

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Answer 1

Answer:

Tax Deducted at Source (TDS) is a system introduced by Income Tax Department, where the person responsible for making specified payments such as salary, commission, professional fees, interest, rent, etc. is liable to deduct a certain percentage of tax before making payment in full to the receiver of the payment.

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Answer 2

Answer:

TDS stands for tax deduction at souce..it means collecting of tax on source or assets based and by requiring the payer to deduct the tax due before paying to payee..it was first started in 1961 under income tax act ..

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