Question

What is TDS ... ?? ​

Answer 1

TAX DEDUDCTED AT SOURCE(TDS):

TDS stands for tax deducted at source. 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 has to be deducted at the rates prescribed by the tax department.

As per the Income Tax Act – persons responsible for making payments are required to deduct tax at source at prescribed rates.

Instead of receiving tax on your income from you at a later date, the govt wants the payers to deduct tax before hand and deposit it with the govt.

Answer 2

Answer:

TDS➡️Tax Deducted at Source

It is a means of collecting Income Tax in India Under the Indian Income Tax Act of 1961

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