Answer / lgovindarao

TDS- Tax deducted at source. Which is collected and paid by
the company. which is collected by the company from the
service providers and paid to the department.
Income tax: it is tax on income earned by the Assesse in
the prevous year.

Challan for TDS-281
Advance tax -280

Answer / evanjalin

TDS is tax deducted at source. The reason behind this is to
safeguard the interest on Income tax department and
increase revenue to government instead waiting till the end
of the assessment year. Income tax is the tax charged on
the income earned in a financial year from Apr to March -
12 months according to the slab rate applicable for that
financial year

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