Answer / Suman Kumar Jha

TDS (Tax Deduction at Source) is a process where the tax amount is deducted by the payer (employer or bank etc.) from the income paid to the payee (employee or interest earner). Here are some key details:n
1. Limit: The TDS limit varies for different types of incomes and is defined by the Income Tax Act.n
2. Rate: The TDS rate is also specified in the Income Tax Act based on the type of income and the tax slab under which the income falls.n
3. Entry: To make TDS entries, you can use accounting software like Tally, where you record the TDS deducted along with the relevant details like TDS account number, TDS challan number, and TDS payment details.

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