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Answer Posted / triloksharma71
TDS means Tax deduction at source.
It is the tax levied by the government.
If the assesse arises any of the source of income from the
below heads
Income from salary
Income from business
Income from capital gain
Income from other sources
Tax is Levied
For example if the assesse had earned income from the above
heads in year 2007-08. He has to pay tax in the year 2008-
09, but TDS should be deducted in year 2007-08 it-self .It
should be deposited with in 7 days in the next
month.Monthly return should be filed.
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