TDS or Tax Deducted at Source, is a way of taking part of your income tax right when you get paid. It happens when you receive certain kinds of payments. TDS applies to various income sources, including salaries, interest earned on bank savings, rental income from property, and even commissions. It is a vital mechanism to ensure that individuals follow TDS deduction rules and do not evade their tax obligations. This article will comprehensively explain the TDS rules and intricacies outlined in the Income Tax Act of India. IndiaFilings streamlines your TDS return filing with expert assistance! What is TDS Full Form and TDS Meaning? TDS full form is "Tax Deducted at Source". It is a tax amount deducted by the employer from the taxpayer’s income at the time of payment and deposited with the Income Tax Department. The TDS rate varies based on income type and ensures tax collection at the source. Normally, you're responsible for paying your income tax on your own. ...
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