TDS rates revised for accounting year 2019-2020

Overview TDS or Tax Deducted at The source is the tax that is deducted at the source of income of a person. During the union budget every year, the revised rates are announced. There are a number of rates for different nature of income falling under different heads. This could vary from 1%-30%. Aim of TDS The main aim of TDS is to deduct the income at the very source and remit the deducted amount to the central government’s account. Furthermore, the person from whose account this the amount is deducted is eligible to get a credit of such amount through Form 26AS or TDS certificate issued by the deductor. The basis of TDS Deduction TDS is deducted at source before receiving inco...