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Tax Deducted At Source

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(Querist)
14 July 2008 why the TDS is to be Deducted?
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
14 July 2008 In general the term in itself suggests that it is the Tax Deducted at Source. As per the IT Act, it is obligatory on the part of certain persons making payments for Salaries, Contracts, Professional Fee, Rent, Commission, Interest etc and covered by certain other conditions of Sections 194A,C,D,H,I,J,!95,!92 etc, to deduct the Tax at Source at rates specified in this regard. Th e tax deducted is paid into the Government's account and the deductee receives credit of such tax in his income tax return.
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K V Subba Rao

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K V Subba Rao (Expert)
14 July 2008 For the Govt to get quick money and reduce incidences of evasion
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