Explain TDS Basics

By | 2018-08-08T09:16:46+00:00 June 25th, 2016|Categories: Income tax basics|Tags: , , |

TDS   TDS, short for Tax deductible at source, is a way of indirect tax collection by the government according to Indian tax act, 1961. It is adjusted against the total tax liability of an assessee a percentage of the overall payment is withheld by the source that is making the payments. The source is then [...]

TDS on Bank Deposits

By | 2018-08-08T09:14:43+00:00 June 25th, 2016|Categories: Income Tax Guide|Tags: , , |

Tax Deducted at Source   What is TDS? TDS stand for Tax Deducted at source is a way the government collects tax from individuals, where the person making a payment is responsible to collect part of the payment as TDS (prescribed rate) and pay the money to government on behalf of the person earning the money. [...]