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Answer Posted / gaurav
In a simple language TDS stands for tax deducted at source.
It is a tax that is deducted from the earning of the
employee by the employer in other words it is a tax that is
deducted at source. It is deducted as per the finance act of
that year. TDS should not be confused with the income tax
return; TDS is a different tax than income tax . Tax
deduction is useful to reduce the income taxand provide tax
relief. TDS is deposited in the government treasury and
later on assigned to central government. TDS came into
existence because government wants to expand their tax
bracket in the country.
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