TAXATION

TDS is a kind of income tax that is deducted at source, this could be hard to understand but in the simple way to know thus, if a person gets 10 dollars daily for a year the person could get 3650 dollar each year. The government wants to know how much the person had got in the financial year from 1^st April, they say to keep the 3000 dollars for the themselves and pay te remaining 650 dollars to the government so that they could use them for their purposes. This very simple to know what is TDS, the TDS are detected by the government during the transaction of money into the person account this done by the bank but they pay them to the treasury of the government. The percentage of the income is given by the people to the government. The tax is mostly paid in the previous year so they could claim the money when they don’t have received that much dollars in that year this is called as the TDS return. Not all the year the people could the same amount of money daily they could differ but the government considers as they get the same amount so the people could fill the form for the TDS return and claim the amount.