<div class="mod" data-md="61"> <div class="LGOjhe" role="heading" aria-level="3" data-hveid="CAgQHg"><span class="ILfuVd yZ8quc NA6bn"><b>TDS</b> is simply Tax <b>Deducted</b> at Source. As per the Income Tax Act – persons responsible for making payments are required to <b>deduct</b> tax at source at prescribed rates. Instead of receiving tax on your income from you at a later date, the govt wants the payers to <b>deduct</b> tax before hand and deposit it with the government.</span></div> <div role="heading" aria-level="3" data-hveid="CAgQHg"> <div class="mod" data-md="61"> <div class="LGOjhe" role="heading" aria-level="3" data-hveid="CAgQFg"><span class="ILfuVd yZ8quc NA6bn">Tax is to be <b>deducted</b> and paid to the credit of government on every 7<sup>th</sup> day of the succeeding month in which the tax has been <b>deducted</b>, otherwise, interest @ 1.5% per month of <b>TDS amount</b> subject to maximum <b>amount</b> of <b>TDS</b> is levied.</span></div> </div> <div class="g"> <div data-hveid="CAgQGA" data-ved="2ahUKEwiC5ITgoZzdAhXTb30KHW0SCagQFSgAMAh6BAgIEBg"></div> </div> </div> </div>

590.00

TDS is simply Tax Deducted at Source. As per the Income Tax Act – persons responsible for making payments are required to deduct tax at source at prescribed rates. Instead of receiving tax on your income from you at a later date, the govt wants the payers to deduct tax before hand and deposit it with the government.
Tax is to be deducted and paid to the credit of government on every 7th day of the succeeding month in which the tax has been deducted, otherwise, interest @ 1.5% per month of TDS amount subject to maximum amount of TDS is levied.

Description

TDS is simply Tax Deducted at Source. As per the Income Tax Act – persons responsible for making payments are required to deduct tax at source at prescribed rates.