TDS stands for Tax Deducted at Source. It is a system in which the payer of an income, such as salary, interest, or rent, deducts a certain amount of tax from the payment and remits it to the government on behalf of the payee.For every such kind of transaction and payment, there is a specified rate of interest. Only if the deductor has filed the TDS return on time can the deductee claim the tax deducted.
