what is TDS????????
pls tell
Answers
Answered by
2
Tax Deducted at Source (TDS) is a means of collecting income tax in India, under the Indian Income Tax Act of 1961.
Under this Act, any payment covered under these provisions shall be paid after deducting prescribed percentage.
It is managed by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue managed by Indian Revenue Service . It has a great importance while conducting tax audits. Assessee is also required tofile quarterly return to CBDT.
Under this Act, any payment covered under these provisions shall be paid after deducting prescribed percentage.
It is managed by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue managed by Indian Revenue Service . It has a great importance while conducting tax audits. Assessee is also required tofile quarterly return to CBDT.
Answered by
0
TDS is the abbrevatiion of tax deducted at source
Similar questions