Answer Posted / shiva govander
Tax deducted at source (TDS), as the very name implies aims at collection of revenue at the very source of income. It is essentially an indirect method of collecting tax which combines the concepts of “pay as you earn” and “collect as it is being earned.” Its significance to the government lies in the fact that it prepones the collection of tax, ensures a regular source of revenue, provides for a greater reach and wider base for tax. At the same time, to the tax payer, it distributes the incidence of tax and provides for a simple and convenient mode of payment.
The concept of TDS requires that the person on whom responsibility has been cast, is to deduct tax at the appropriate rates, from payments of specific nature which are being made to a specified recipient. The deducted sum is required to be deposited to the credit of the Central Government. The recipient from whose income tax has been deducted at source, gets the credit of the amount deducted in his personal assessment on the basis of the certificate issued by the deductor.
Source: Income Tax Department
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
If you have done your BE in Computer science then why you choose HR as a profession ?
Can u tell me about your Personal Life?
describe different skills required for a manager and pesponsibilities of a professional manager.
how can i apply for HR trainee post in MNC. in India?
Name five recruitment incentives that can improve our company's competitive recruiting position.
I have completed my fashion technology course and after that i did my MBA,during interviews they used to ask like why i choose MBA after fashion technology.
Describe a time when you anticipated a problem and developed a potential solution?
why u choose MBA hr ofter BSC life science.
What do you understand by the term 'Big 4s'?
What are the governing principles under "reasonable accommodation"?
How does your experience and qualifications match up to the job?
In present state of recession in the IT industry as a HR Manager how are you going to undertake HR Planning at micro level to tide over this crisis?
Human resource management in retailing business
What is difference between Performance Management and Performance Appraisal?
i am doing final year mba. i planned to do my project in talent acquistion management.. can any one give me the standardised scale & questionnaire for the project. thank you
