Tax Withholding

Tax Glossary Definition

Tax Withholding

Refers to the deduction or collection of tax at the source of income, commonly known as TDS (Tax Deducted at Source) or TCS (Tax Collected at Source). It ensures tax collection at the time of payment itself.

Example: Rent paid of ₹1 lakh attracts TDS of ₹10,000, which is deducted before making the payment to the landlord.

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