Tax Deducted at Source

TDS (tax deducted at sources) aim is to collect tax from very source of income. As per TDS, a person (deductor) who is liable to make payment of specified nature to any person (deductee) shall deduct tax at source and remit the same into the account of the central government.

The deductee from whose income tax has been deducted at source would be entitled to get credit of the amount so deducted on the basis of form 26AS or TDS certificate issued by the deductor.

Did you Know

The deductor is entitled to deposit the tax deducted on or before 7th day of respective month.
There is Penalty for Default in payment for ₹ 200 per day.

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