What is the difference between TDS and income tax?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Gautham asked about 4 years ago

What is the difference between TDS and income tax?

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2 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered about 4 years ago

TDS is Tax Deducted at Source, which means that the tax is cut before you get the money in hand. That tax is cut and paid on your behalf by the person making the payment. Income Tax is paid after the money is received and that money is paid by the person who receives the payment. Essentially, both are forms of tax on income, one collected before, and other collected after receipt of the payment! visit [CAKART provides the best video Lecture and Online classes, coaching for Chartered Accountant CA FINAL, CA Intermediate | CA IPCC, CA Foundation | CA CPT Exams; Company Secretary CS FINAL] to avail discount use my ambassador code :CAKARTAMB1671782 for more article visit

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Open uri20170510 32134 117xyds?1494421825 dhanashri answered about 4 years ago

hello mr. Gautam t**he difference between TDS and Income tax is as follows** **TDS: ** Tax deducted at source it means certain percentage of tax is deducted from the source of income before you get your money in your hand. it is indirectly paid by the person who making the payment on behalf of you. **Income Tax**: income tax is levied on the income of individual / corporate earned in previous year.. the income earned in previous year is assesed in the assessment year. it is the tax liability on the income earned in previous year. it is paid by the person who receives the payment ----------

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