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Tax Deducted at source

Abhishek Kanth (career) (117 Points)

31 October 2017

can anyone tell me about TDS in brief.

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Pardeep Garg (CA-Final Student) (801 Points)
Replied 01 November 2017

TDS: It is deducted by payer at the time of payments or making debits in his books, as the case may be,& deposits the same with Central Govt.( Income Tax Department).
The logic behind TDS is that receiver of income gets income on which tax had been deducted.
And the Government had his details.

Pardeep Garg (CA-Final Student) (801 Points)
Replied 01 November 2017

If any payment has been made without deducting TDS as per the provisions then the payer can't avail the deduction of expenses. He will be assessee in default & liable to legal punishment.