TDS stands for ‘Tax Deducted at Source’. It was introduced to collect tax at the source from where an individual’s income is generated. The government uses TDS as a tool to collect tax in order to minimize tax evasion by taxing the income (partially or wholly) at the time it is generated rather than at a later date. TDS is applicable on various incomes such as salaries, interest received, commission received, dividends etc. TDS is not applicable to all incomes and persons for all transactions. Different TDS rates have been prescribed by the Income Tax Act for different payments and different categories of recipients.

Areas Covered

• Basic understanding of TDS
• When & how to deduct TDS
• TDS & TCS compliances, like payment and return filing
• Rates of TDS and special consideration
• Interest and panel provisions