TDS (Tax deducted at service) concept was introduced with an aim to collect tax from the very source of income. We Smartcorp provide excellent services in TDS registration in Tirupur. The registration can be done easy and effectively in a short span of time with our domain expert’s team. TDS is a way of collecting Income Tax in India as per the Income Tax Act of 1961. The Central Board for Direct Taxes (CBDT) is reliable to cope with it.
Tax deducted at service can be applied to the fields like salary, commission, brokerage, royalty payments, contract payments, interest earned by financial investments, earnings from lotteries, rent income and professional fees etc. Tax is collected in order to maintain the revenue source stable for the government throughout the year for preventing the people from evading taxes.
What is the importance of TDS?
TDS enables you to pay your tax on your income, when you earn it. However, if you feel that TDS deduction is a burden for the salaried people? It also relieves the taxpayer from the burden of paying huge taxes all at once at the end of the financial year