Tax Deducted at source
Abhishek Kanth (career) (117 Points)
31 October 2017
can anyone tell me about TDS in brief.
2 Replies
Pardeep Garg
(CA-Final Student)
(801 Points)
Replied 01 November 2017
TDS: It is deducted by payer at the time of payments or making debits in his books, as the case may be,& deposits the same with Central Govt.( Income Tax Department).
The logic behind TDS is that receiver of income gets income on which tax had been deducted.
And the Government had his details.
The logic behind TDS is that receiver of income gets income on which tax had been deducted.
And the Government had his details.
Pardeep Garg
(CA-Final Student)
(801 Points)
Replied 01 November 2017
If any payment has been made without deducting TDS as per the provisions then the payer can't avail the deduction of expenses. He will be assessee in default & liable to legal punishment.
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