What is TDS
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Answer Posted / jahnavi koganti
tds stands for tax deducted at source.
person liable to deduct tax are assessees who are employers.
The tax is deducted by the employer and is remitted to the
government before the employee receives the salary.The rates
of tax are according to rates mentioned in partIII of the
finance act.
the responsibility of deduction of tax falls on the
employer,if not deducted he is liable to pay interest for
the period delayed.The employee may be a resident or a
non-resident.
In foreign countries this kind of tax remitted at source
is called withholding tax.
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