"Introduction
TDS full form is “Tax Deducted at Source.” It is a taxation method wherein the payer deducts a certain amount from the payment. It is given to the government as income tax. It ensures regular tax collection. It also reduces tax evasion.
Tax Deducted at Source (TDS) is vital to the Indian taxation system. TDS is a mechanism where the payer makes a certain percentage of tax deductions. The purpose is to ensure a steady revenue stream for the government. It also promotes tax compliance.
Understanding what TDS means is key for taxpayers and businesses alike. For taxpayers, it affects their net income. Knowledge can help in proper financial planning. Following TDS rules is key to avoiding legal issues. It also improves the government’s tax collection, welfare initiatives, and developmental projects. So, an.."