Question

why TDS is to be deducted???

Answer 1

TDS is simply Tax Deducted at Source. 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 todeduct tax before hand and deposit it with the govt.

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Answer 2

Tax deducted at source (TDS) is the mean of collecting tax in India under the Indian Income Tax Act in 1961 . it is done To collect the tax at the time of payment of income to various assessees such as contractors, professionals etc and To enable the salaried people to pay the tax as they earn every month. This helps the salaried persons in paying the tax in easy instalments and avoids the burden of a lump sum payment.