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What is TDS
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Answer / chandan singh rawat
tds mean tax deduction at source, it mean any type of souce
which's earning an income from that source, that should
need deduction,which is deducted at prescribed rate of
finance act who's sertified by finance minister is called
tds.
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Answer / bhoomika dalela
The payer has to deduct the amount of tax payable from the
income of payee at the time of deduction of tax from the
source of income at the same time of income.
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Answer / vijay gawalkar
Tax deducted at source or well known as TDS is one of the
modes of collecting Income tax from the assessees. This is
governed the Income Tax Act, 1961 and levied by CBDT.
TDS is the tax getting deducted from the person receiving
the amount by the person paying such amount. This is
applicable to certain types of payments, as applicable is
the said Act.
In the process of TDS, deduction of tax is effected at the
source when income arises or accrues. Hence where any
specified type of income arises or accrues to any one, the
Income-tax Act enjoins on the payer of such income to
deduct a stipulated percentage of such income by way of
Income-tax and pay only the balance amount to the recipient
of such income.
The tax so deducted at source by the payer, has to be
deposited in the Government treasury to the credit of
Central Govt, within the specified time. The tax so
deducted from the income of the recipient is deemed to be
payment of Income-tax by the recipient at the time of his
assessment.
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Answer / krishna dey
TDS stand for Tax Deducated at Source,Any income payable
to the assessee shall be liable for deduction of tax at
source by the person responsible for making payment.
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Answer / poonam hingonekar
Any income payable
to the assessee shall be liable for deduction of tax at
source by the person responsible for making payment. TDS is
deducted at prescribed rate as per the Finance Act of that
year.After deduction of tax employer pay
the salary to employee.
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / kalaiselvi
tds is tax deducted at source the person as to pay at the
time of earning an income an individual means tds is 1%.if
we pay the tds,it payment is reduce
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Answer / mani
Tds Means Tax Deducted at source.In this company will adjust Both INPUT AND OUTPUT tax together.The Remaining amount will be paid.
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Answer / swetha
THE MEANING OF TDS IS TAX DEDUCTION AT SOURCE.SOURCE IS THE INCOME EARNED BY DOING WORKING OR FROM ANY OTHER BUSSINESS.WHERE AN INDIVIDUAL HAS NECESSARY PAY TAX TO THE GOVT FOR THE INCOME EARNED OR SPENT.THE INDIVIDUAL IS KNOWN A THE ASSESE HERE.
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