Monthly Tax Deduction (MTD)

Tax Glossary Definition

Monthly Tax Deduction (MTD)

Monthly TDS Return: A periodic statement submitted by the deductor that reports the amount of tax deducted at source from different categories of payments. Although commonly referred to as a monthly return, these filings are generally made on a quarterly basis in prescribed forms. Example: An employer submits Form 24Q each quarter to report TDS deducted from employees’ salaries.

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