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TDS Detailed Discussion

 

CONCEPT OF TDS

  • Aims at deduction of tax at the very source of income;
  • An indirect method of collecting tax;
  • To Collect tax in advance;
  • Deduction by the person making payment/crediting;
  • Deduction of TDS on certain specific nature of payment;
  • No deduction of TDS on the amount of indirect taxes like GST charged on bill.
  • Governed by provisions of Chapter XVII of the Income Tax Act, 1961 ….Continue Reading

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