Friends, if you want to know about TDS Full Form and also want to know about TDS then today we will give you the detail about TDS Meaning and TDS Full Form through this post. Will tell you TDS is a type of indirect tax paid by us to the government. We pass many types of taxes to the government on our behalf.
But most tax evasion is likely. TDS does not have this. To know what TDS is, TDS Full Form, what is TDS , read this post from beginning to end.
What is TDS
Come lets know what is TDS? And we know in detail about what is the full form of TDS. When someone pays money such as rent, brokerage, fees, salary, interest, etc. then some percentage of that payment is given to the government as indirect tax, this deducted amount is called TDS. . Basically, the receiver has to pay income tax / income tax from his earnings, and the tax deduction provisions at the source ensure that it is deducted at the time of payment of tax. And the one who is the receiver gets the same amount from which TDS has been deducted. Hence it is called ‘Tax Deduction at the Source’, a tax which is deducted from the source of inward. The receiver gets the credit for the tax.
TDS Full Form
Tds Full Form – “Tax Deducted At Source”
Complete information about TDS
In simple language, TDS means when you get your salary every month, then some percentage of that amount is already deducted. That deducted amount reaches the government in the form of tax and that amount is called TDS. Tax is levied by the government in two types Direct Tax and Indirect Tax or Direct Tax and Indirect Tax. As we told you that TDS is an indirect tax which is deducted from the source of your arrival and the record of that tax is in your name. Some rules have been made by the Income Tax Department to deduct TDS, according to which TDS is deducted only on an income limit. To know TDS Full Details in Hindi, read this post till the end so that you can get TDS Ke Bare Mein Jankari.
How TDS is Deducted
TDS is deducted in all the payments mentioned under the Income Tax Act. Your employer deducts TDS according to the slab rates of the Income Tax Department. Banks deduct TDS up to 10 percent and 20 percent if there is no PAN card details. The Income Tax Department has set a limit that if a person’s taxes are less than the eligible tax limit, then that person will not have to pay tax.
The tax which is deducted at the source should be deposited by the government by the seventh day of that month. The Central Board of Direct Taxes regulates TDS under the Income Tax Act 1961.
Benefits of TDS
- Money reaches the government.
Filling of TDS helps prevent tax evasion.
Because these taxes are deducted from the source itself, there is no possibility of any kind of deception.
TDS is not deducted when payment is made to a government department. A TDS certificate is a certificate given by the source that deducts TDS, which states how much TDS has been deducted and deposited.
In this way you contribute towards the country by filling TDS. TDS plays a big role in the development of the country.
We hope that you have found this article informative and that you have learned the following things in it – TDS Full Meaning, What is TDS, what does TDS mean? You must have got complete information about TDS.