Tds

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Vandana Pradhan

Vandana Pradhan (Querist)

23 April 2014 plz explain me d concept of TDs in detail..

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

23 April 2014 TDS is one of the modes of collection of taxes, by which a certain percentage of amounts are deducted by a person at the time of making/crediting certain specific nature of payment to the other person and deducted amount is remitted to the Government account. It is similar to "pay as you earn" scheme also known as Withholding Tax in many other countries, one of the countries is USA. The concept of TDS envisages the principle of "pay as you earn". It facilitates sharing of responsibility of tax collection between the deductor and the tax administration. It ensures regular inflow of cash resources to the Government. It acts as a powerful instrument to prevent tax evasion as well as expands the tax net.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

23 April 2014 For TDS rates and due dates check out the file from below link--

https://www.caclubindia.com/forum/21-useful-charts-for-tax-compliance-ay-14-15-251153.asp#.U1f0c_mSy3s

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