TDS Full Form In English
TDS stands for Tax Deducted at Source. It is a system of collecting income tax in India, where a certain percentage of tax is deducted by the payer while making specific payments such as salary, interest, rent, or commission. The deducted amount is directly deposited with the government, helping to prevent tax evasion and ensure a steady flow of revenue.
TDS Full Form In Hindi
TDS** का फुल फॉर्म स्रोत पर कटौती किया गया कर है। यह भारत में आयकर वसूलने की एक प्रक्रिया है, जिसमें वेतन, ब्याज, किराया या कमीशन जैसे भुगतान करते समय कर की एक निश्चित राशि पहले ही काट ली जाती है। यह राशि सीधे सरकार के खाते में जमा कर दी जाती है। TDS प्रणाली कर चोरी को रोकने और सरकार की नियमित आय सुनिश्चित करने में मदद करती है।
Read More: PCOD Full Form In English And Hindi
Frequently Asked Questions
What is TDS?
TDS stands for Tax Deducted at Source. It is a system where tax is deducted at the time of making certain payments like salary, rent, interest, or commission.
Who is responsible for deducting TDS?
The person or organization making the payment is responsible for deducting TDS and depositing it with the government.
Why is TDS deducted?
TDS is deducted to ensure regular tax collection and to prevent tax evasion.
How is TDS deposited?
The deducted tax is deposited directly with the government under the payer’s name.
Can the deducted TDS be claimed back?
Yes, if the deducted TDS is more than the actual tax liability, the excess amount can be claimed as a refund while filing income tax returns.
What are the common payments on which TDS is applied?
TDS is commonly applied on salaries, interest from banks or fixed deposits, rent payments, professional fees, and commissions.
Conclusion
TDS is an important mechanism for collecting income tax in India. It ensures that taxes are deducted at the source itself, reducing the chances of tax evasion and helping the government maintain a steady flow of revenue. Understanding TDS, how it works, and the process of claiming refunds is essential for both individuals and businesses to manage their finances efficiently and stay compliant with tax laws.
