what do you understand by tax deduction sources
Answers
Answered by
1
Answer:
TDS or Tax Deducted at Source at prescribed rates is made mandatory by the Income Tax Act on certain persons responsible for making payments. The tax deducted has to be deposited by them to the government. The recipient of income receives the net amount (i.e. gross income minusdirect taxdeducted at source).
Answered by
0
Answer:
as per the income tax act any company or person making a payment is required to deduct
tax at source if the payment exceeds certain threshold limits .... TDS is deducted is the irrespective of the mode of the payment ,-cash,cheque or credit.... and is linked to the PAN of the deductor and the deducted........................................
Similar questions