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Tax deducted at source
is TDS asset for deductee
Replies (2)
Advance tax paid is an asset certainly.
Tax Deducted at Source (TDS) is a system introduced by Income Tax Department, where the person responsible for making specified payments such as salary, commission, professional fees, interest, rent, etc. is liable to deduct a certain percentage of tax before making payment in full to the receiver of the payment.
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