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What is the Mean of TDS,Benefits of TDS,Demerits of TDS?
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Answer Posted / srikanth
TDS means Tax Deduct At Source. TDS will be deducted by the
Govt from an Assessee's Income which he/she Receivable.
According to Section 203 of the Indian Income Tax Act 1961,
TDS should be Calculated on incomes such as interest on
Securities, Special Income like as Income form Lotteries,
Cross Word Puzzles, And From Winnigs, Rent, Royalties,
Subcontract Works, Conrract WOrks, Labour Payments etc...
The TDS Benefit Will be avial to An Assessee While Paying
his/ her Tax Liability. the Rates of the TDS Vary from
Expenditure To Expenditure. According to Indin Income Tax
Act 1961, Form No 16 Will be Given By the Govt Through The
TDS Deductor to Deductee......
Thanks & Regrads
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