Banking Exam Question - What is Tax Deduction at Source - TDS? What is TDS Certificate? Explain

Introduction - Tax Deduction at Source - TDS

Income Tax Act, 2058, in advance, due to the payment paid in advance, tax management in advance will be called Katti in advance. To be full Tax payment is also called tax kitty on tax or source. It is based on the principle of it. Due to income, the taxpayer will be easier to pay tax, the government will be employed as the government receives regular revenues, the revenue collection costs will be reduced. This system consists of two sides in advance with the person who has been beaten up and the advance tax.

In both cases, the two sides are responsible for harassment. Advance from income, dividend, income tax, service fee, contract lease, commission, meeting allowance, management fee, technical fee, royalty, home rent, property rental, leave of natural source, payment of natural source, accidental benefits, benefits of investment insurance etc. Payment is as per payment. In advance, the person who has been beaten should submit details of the incident and cut off the money in the respective internal revenue office. The description of advance tax can also be submitted from the electronic system, which is called.

What is TDS? 

Tax Deducted at Source (TDS) is a framework presented by Income Tax Department, where individual in charge of making indicated installments, for example, pay, commission, proficient expenses, intrigue, lease, and so forth is at risk to deduct a specific level of duty before making installment in full to the beneficiary of the installment. As the name proposes, the idea of TDS is to deduct charge at its source. Give us a chance to take a case of TDS expecting the idea of installment is proficient charges on which determined rate is 10%. 

1) What Is TAN and How to apply for TAN? 

TAN stands for Tax Deduction Account Number. It is 10 digit alpha numeric number required to be acquired by all people who are in charge of deducting or gathering charge.

2) What is TDS Certificate? 

TDS declarations are issued by the deductor (the individual who is deducting charge) to the deductee (the individual from whose installment the expense is deducted).