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What is the difference between Advance Tax and TDS?
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Answer Posted / r.srinivasa bhat
Advance tax is the tax payable on 15th of June, September, December and March on the self assessed estimated income based on the income of the previous financial year and the income over & above the same for the respective financial year in which advance tax is paid.
Where as TDS is payable by the third party viz.employer or a person/company/ Institution by recovering the amount at the applicable rate from the amount paid to the beneficiary towards the remuneration for services rendered and other payments like interest on deposits, rent on hired premises, salary, pension etc...
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