TDS: Tax Deducted at Source
TDS Full Form
TDS Full Form is Tax Deduction at Source. India’s TDS is a method of taxing income, dividends, or asset sales. It requires the payer (or legal intermediary) to deduct the tax payable before the balance is paid to the beneficiary (and taxation authorities).
It is administered by the [Central Committee for Direct Taxes (CBDT)] and is part of the Revenue Department administered by the Indian Revenue Service. It is very important when performing tax audits. The resident is also required to submit a return to CBDT every three months. The return describes the tax withheld from the government and paid to the government in the relevant quarter.
- In order to enable wage earners to pay taxes when they earn a monthly income. This helps the salaried employees pay taxes easily in installments and avoid the burden of a one-time payment.
- Collecting taxes when income is paid to contractors, professionals, etc.
- The government needs funding throughout the year. Therefore, taxes collected in advance and taxes deducted at the source can help the government obtain year-round financing and a well-managed government.
Some Other TDS Full Form
|TDS||Tabular Data Stream||a computer protocol (Technology)|
|TDS||Thermal desorption spectroscopy||Science|
What Is The Full Form Of TDS?
TDS Full Form is Tax Deduction at Source. The term TDS refers to tax deductions on personal income. The deductible is responsible for the payment to the borrower. TDS helps to reduce the filing tax burden of liabilities and ensure that the government receives a stable income. TDS is collected after your bonus reaches a certain threshold.
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