TDS Return

TDS Return

Tax Deduction at Source or TDS is a type of advance tax that is deducted from the earnings of an individual or organization before it is actually credited to that person's account. As the name indicates, "tax deducted at source" means that the recipient or employer deducts the tax before paying it to the recipient. TDS is also applicable on income earned regularly and occasionally or irregularly on income earned on various factors. Hence, TDS is applicable on various incomes including but not limited to salary, commission, rent, business charges and interest.
Payment of TDS has various benefits like:
• Deducting TDS at source helps to prevent tax evasion
• Tax is collected on time, following the rules and regulations
• A large ratio of people falls under the tax net
• Collection of TDS is a steady and important source of revenue for the government