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    Who Is Eligible For TDS?

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    bvbhina
    TDS, or Tax Deduction at Source, is a process where employers deduct income taxes from employee salaries and pay them to the government on the employee's behalf. Some key points about TDS include: 1) Employers are responsible for deducting the appropriate amount of tax based on an employee's salary and paying it to the government. 2) Self-employed individuals like doctors must pay their own taxes directly to the government. 3) Those responsible for deducting or collecting taxes, like employers, must obtain a TAN or Tax Deduction and Collection Account Number.

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    Who Is Eligible For TDS?

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    bvbhina
    17 views1 page
    TDS, or Tax Deduction at Source, is a process where employers deduct income taxes from employee salaries and pay them to the government on the employee's behalf. Some key points about TDS include: 1) Employers are responsible for deducting the appropriate amount of tax based on an employee's salary and paying it to the government. 2) Self-employed individuals like doctors must pay their own taxes directly to the government. 3) Those responsible for deducting or collecting taxes, like employers, must obtain a TAN or Tax Deduction and Collection Account Number.

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    TDS, or Tax Deduction at Source, is a process where employers deduct income taxes from employee salaries and pay them to the government on the employee's behalf. Some key points about TDS include: 1) Employers are responsible for deducting the appropriate amount of tax based on an employee's salary and paying it to the government. 2) Self-employed individuals like doctors must pay their own taxes directly to the government. 3) Those responsible for deducting or collecting taxes, like employers, must obtain a TAN or Tax Deduction and Collection Account Number.

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    Attribution Non-Commercial (BY-NC)
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    17 views1 page

    Who Is Eligible For TDS?

    Uploaded by

    bvbhina
    TDS, or Tax Deduction at Source, is a process where employers deduct income taxes from employee salaries and pay them to the government on the employee's behalf. Some key points about TDS include: 1) Employers are responsible for deducting the appropriate amount of tax based on an employee's salary and paying it to the government. 2) Self-employed individuals like doctors must pay their own taxes directly to the government. 3) Those responsible for deducting or collecting taxes, like employers, must obtain a TAN or Tax Deduction and Collection Account Number.

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    TDS Tax Deduction at Source(TDS) and the rate for some of the TDS.

    We all aware that we need to pay the Income Tax for our income. In some cases the employer will be taking care of paying the total tax amount to the government in behalf of all the employees by deducting the tax amount from their salaries. This process is called TDS or Tax Deduction at Source. Taxes are deducted at the time of calculating your income. For example, your are working for a company X. Every money they will be paying you the salary of Rs.350000. If you are looking into your payslip there is a colum name IT which mention the tax amount deducted from your salary. Actully the tax amount is deducted by your company and then pays to the government. Where as if you are not working for any company or doing the professional jobs like Doctor,Charted Accountant(CA),etc. You are liable to pay the tax to the government. Who is eligible for TDS? Not every one can deduct the tax at source. You have to apply for the Tax Deduction Account Number(TAN). TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting or collecting tax. It is compulsory to quote TAN in TDS/TCS return (including any e-TDS/TCS return), any TDS/TCS payment challan and TDS/TCS certificates.

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