TDS: Tax Deducted At Source
Outlook Money|July 2024
Every taxpayer in India has heard about tax deducted at source (TDS). It is one of the main revenue sources for the government.
Tarun Bhardwaj
TDS: Tax Deducted At Source

Under the Income-tax Act, 1961, certain individuals or entities are required to deduct TDS for payment made towards salary, professional fees, contract payments, commission, rent and royalty, among others. TDS is also applicable on investments, such as interest earned on fixed deposits, post office deposits, and so on. The rates of TDS are fixed under the Act. The entity deducting TDS is called the deductor, while the company or person from whom it is deducted is called the deductee.

Know The Basics

  • TDS is applicable on salary, interest income, brokerage, professional fees, commission, purchase of goods, rent, and investment, among others.

  • Form 16 and Form 16A are varieties of TDS certifications.

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Diese Geschichte stammt aus der July 2024-Ausgabe von Outlook Money.

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