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What is TDS

TDS

About TDS

What is TDS

Tax Deducted at Source or TDS was introduced to collect tax from the source of income. According to the Income Tax Act, anyone making a payment is required to deduct tax if the payment is crossing certain limits. The limits or the rates are prescribed by the Income Tax department. TDS is managed by the Central Board of Direct Taxes (CBDT), which comes under the Department of Revenue.
 
The company or the person deducting the tax is called a deductor and the company or the person receiving the deducted payment if the deductee. The deductor is required to remit the tax
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Latest Updates on TDS

Over ₹50k on rent? Here's the TDS rule that could cost you big if ignored

Missing TDS on rent over ₹50k? It's a costly slip. 'A small deduction today avoids a big problem tomorrow,' says a tax expert.

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Updated On : 09 Jul 2025 | 4:25 PM IST

Digital payments for ads or software? Here's where TDS may surprise you

'Your ad or software bill may be a tax event,' say chartered accountants.

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Updated On : 20 Jun 2025 | 4:58 PM IST

May 2025 tax filing & compliance deadlines: What's due, when, and by whom

From TDS/TCS filings to Form 61A/B submissions: know what's due, when, and who must act. Stay compliant to avoid penalties

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Updated On : 01 May 2025 | 12:42 PM IST

EPFO eases PF transfer on job change, removes employer's approval

This revamped functionality also provides the bifurcation of taxable and non-taxable components of PF accumulations to facilitate accurate calculation of TDS on taxable PF interest

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Updated On : 25 Apr 2025 | 11:13 PM IST

Paying rent above Rs 50,000? Deduct TDS or face income tax default notice

The tenant must deduct 5 per cent TDS on the rent amount and deposit it with the government using Form 26QC within 30 days from the end of the month in which the rent is paid

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Updated On : 15 Apr 2025 | 4:57 PM IST

Finance ministry notifies form ITR-B to report undisclosed income

Form ITR-B allows the assessee to claim TDS (tax deducted at source) and TCS (tax collected at source) credit against undisclosed income

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Updated On : 08 Apr 2025 | 10:37 PM IST

TDS to capital gains tax: What impact new tax Bill will have on NRIs

NRIs who earn Rs 15 lakh or more annually in India will be classified as residents for tax purposes

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Updated On : 14 Feb 2025 | 5:48 PM IST

Senior citizens: How the Rs 1 lakh TDS threshold affects your FD earnings

Rs 1 lakh TDS threshold for senior citizens on fixed deposit interest reduces procedural hassles but doesn't exempt them from tax liability. Senior citizens must ensure accurate reporting in returns.

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Updated On : 11 Feb 2025 | 3:52 PM IST

Budget proposals to garner up to Rs 45,000 cr bank deposit: DFS Secy

TDS threshold for fixed deposit interest income earned by senior citizens will go up from Rs 50,000 to Rs 1 lakh from FY2025-26, Financial Services Secretary M Nagaraju said

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Updated On : 04 Feb 2025 | 7:59 AM IST

Income Tax dept not an adversarial entity, but participative: CBDT chief

CBDT chairman Ravi Agrawal said the tax administration is committed to 'fostering stability and simplifying business operations' in India

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Updated On : 03 Feb 2025 | 1:52 PM IST

Budget 2025-26: Is the new Income-Tax Bill a step towards 'Nyaya'?

The reduction in TDS rates and rationalisation of TCS provisions are welcome steps

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Updated On : 01 Feb 2025 | 10:44 PM IST
Updated On : 01 Feb 2025 | 10:38 PM IST

How will Budget 2025 impact senior citizens?

Budget 2025 introduces tax relief measures for senior citizens, enhancing savings potential

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Updated On : 01 Feb 2025 | 4:12 PM IST

US-India Tax Forum proposes simplifying TDS, customs tariff structure

To establish GIFT City as a global financial hub, the Forum has proposed tax exemptions on dividends and financial transactions

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Updated On : 26 Jan 2025 | 7:52 PM IST

SC dismisses PIL seeking scrapping of 'tax deducted at source' framework

A two-judge bench of the Supreme Court remarked that the petition was poorly drafted and unsuitable for consideration, advising the petitioner to move the PIL to the Delhi High Court

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Updated On : 24 Jan 2025 | 2:54 PM IST

These rule changes will impact how you file Income Tax returns in 2025

July 2024 steps will shape tax deductions and exemptions that can be claimed when filing an Income Tax Return (ITR) in July 2025

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Updated On : 27 Dec 2024 | 1:58 PM IST

Citing constitutional violations, PIL in SC seeks abolition of TDS system

The PIL challenged the tax deducted at source or TDS framework under the Income Tax Act, which mandates the deduction of tax at the time of payment by the payer

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Updated On : 26 Dec 2024 | 9:37 PM IST

FinMin unlikely to introduce new Income-Tax Bill in Budget session

Review panel may submit report before FY26 Budget

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Updated On : 15 Dec 2024 | 11:30 PM IST

TDS applicable on salaries of nuns, priests in govt-aided schools: SC

A top court bench led by outgoing Chief Justice DY Chandrachud ruled that salaries paid from government grants are taxable

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Updated On : 09 Nov 2024 | 5:05 PM IST

Industry bodies urge Finance Ministry to ease TDS rate structure

Proposal seeks to lessen compliance burden on taxpayers and avoid litigation

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Updated On : 07 Nov 2024 | 10:50 PM IST