What is TDS and Why Govt has Inserted Provisions of TDS under Income Tax Act

Dear Friends

TDS is Tax Deducted at Source i.e When a service provider provides service receiver than service receiver will deduct TDS (If he want to claim expenses in his Income Tax Act).

Govt wants to make sellers more compliant thats why TDS Provisions has came into existence.

In the absence of TDS Provisions seller might not show the incomes receives in their income tax returns and income might escape.

Withholding Taxes is also a Synonym of TDS.

TDS Is applicable majorly on services (Except in some conditions where it is applicable on Goods as well).
TDS is applicable majorly on

(a) Section 192 (TDS on salaries)
(b) Section 194C (TDS on contract)
(c) Section 194J (TDS on Professional Services)
(d) Section 194H ( TDS on Commission or Brokerage)


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