What is TDS? Meaning, Rates & Compliance Explained
Introduction
TDS (Tax Deducted at Source) is a crucial part of India’s tax system that ensures tax collection at the source of income.
What is TDS?
Tax deducted by the payer before making payment to the recipient.
Common TDS Sections
- 192 – Salary
- 194C – Contractor payments
- 194J – Professional fees
- 194H – Commission
Compliance Requirements
- Deduct TDS correctly
- Deposit within due date
- File TDS returns
- Issue Form 16/16A
Conclusion
Non-compliance can lead to penalties and disallowances.
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