Let’s look at an example to better grasp what TDS means. The amount previously withheld and paid on the recipient’s behalf is accepted as payment. The receiver will add the gross amount to his income and subtract the TDS from his overall tax obligation. The after-tax amount is provided to the recipient of the income (after subtracting TDS). Anyhow, with the help of TDS, the government ensures that the income tax is deducted in advance from the payments you make. The income tax is usually payable by the person receiving money. It is deducted by the individual making such payments. Tax Deducted at Source (TDS) is an income tax deducted from specific financial transactions such as house rent, interest, deposits, brokerage, professional fees, etc. When does the TDS appear on Form 26 AS?.What is the process for correcting the name and address information on Form 26 AS?.
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