2007-02-07 19:21:48 · 3 answers · asked by siddiquemm 1 in Business & Finance ➔ Taxes ➔ India
TDS stands for the Tax Deducted at Source.
It is the payment been deducted by the payer on the amount payable for any service rendered to the payee.
It is done to get the tax and to get more and more people to file ITR to claim back the TDS in case of loss or less income.
This amount is deposited by the deductor with the Govt,.
2007-02-07 19:33:49 · answer #1 · answered by apurav a 3 · 1⤊ 0⤋
whatever Mr/Mrs. apurav a said is correct. in addition to that,
TDS has to deducted at that time when the total transaction value of receiver exceeds Rs. 50000 in the books of Payer.
simple A and B are the parties. A has to pay 49000 to B. this time he no need to deduct TDS. if it is exceeds 50000 that time only he has to deduct the TDS.
2007-02-08 06:54:15 · answer #2 · answered by one2one 1 · 0⤊ 0⤋
TDS - Tax Deduction at Source means Govt gets their share before you get yours.
2007-02-09 00:24:13 · answer #3 · answered by a1b2c3d4test 3 · 0⤊ 0⤋