TDS

TDS stands for tax deducted at source. Any company or person making a payment is required to deduct tax at source if the payment exceeds certain threshold limits. TDS has to be deducted at the rates prescribed by the tax department.

Any company or person who makes the payment after deducting TDS is called a deductor and the company or person receiving the payment is called the deductee. It is the deductor’s responsibility to deduct TDS before making the payment and deposit the same with the government. TDS is deducted irrespective of the mode of payment–cash, cheque or credit. It is linked to the PAN of the deductor and deductee.

All Articles

  1. A step-by-step guide on how to upload TDS statements on the Income Tax Department website.
  2. How to download a justification report to reply to a TDS demand notice
  3. Step-by-step guide on paying TDS online on the government website
  4. Step-by-step guide on retrieving username and password on ClearTDS
  5. Everything you need to know about TDS and how it is calculated
  6. A step-by-step guide on how to revise TDS returns on ClearTDS.
  7. Guide to online correction: add challan or transfer voucher to TDS return on the TRACES website