TDS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 May 2011
WHY WE PAY TDS TO GOVERNMENT ? IN SIMPLE LANGUAGE CAN ANYONE SAY THIS. IN SHORT WHAT IS TDS ?
21 May 2011
Government introduced the concept of TDS to ensure regular flow of fund to the Government. The same concept follows in the case of Advance Tax also.
21 May 2011
Tax deducted at source is one of the modes of collecting Income-tax from the assessees in India. Such collection of tax is effected at the source when income arises or accrues. Hence where any specified type of income arises or accrues to any one, the Income-tax Act enjoins on the payer of such income to deduct a stipulated percentage of such income by way of Income-tax and pay only the balance amount to the recipient of such income.
The concept of TDS is also used as an instrument in enlarging the tax base.
Some of such income subjected to TDS are salary, interest, dividend, interest on securities, winnings from lottery, horse races, commission and brokerage, rent, fees for professional and technical services.
The concept of TDS is also used as an instrument in enlarging the tax base.
Some of such income subjected to TDS are salary, interest, dividend, interest on securities, winnings from lottery, horse races, commission and brokerage, rent, fees for professional and technical services.
22 May 2011
Also read article from below link for more information---
https://www.caclubindia.com/articles/all-you-want-to-know-about-tds-7882.asp
https://www.caclubindia.com/articles/all-you-want-to-know-about-tds-7882.asp
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