what ate the difference between tds and income tax and
which form is used for deposit tds and income tax.give me
detail infromation about this question.
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Answer Posted / evanjalin
TDS is tax deducted at source. The reason behind this is to
safeguard the interest on Income tax department and
increase revenue to government instead waiting till the end
of the assessment year. Income tax is the tax charged on
the income earned in a financial year from Apr to March -
12 months according to the slab rate applicable for that
financial year
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