Kivo Solutions Accounts & Finance Executive Interview Questions and Answers

TDS stands for Tax Deducted at Source, which is a system where tax is deducted by the payer at the time of making payment.

• TDS is deducted by the payer at the time of making certain payments like salary, rent, commission, etc.

• The deducted amount is then deposited with the government on behalf of the payee.

• TDS rates vary based on the type of payment and the payee's status.

• TDS ensures a regular inflow of tax revenue for t...read more

Yes, TDS is tax deductible at source.

• TDS is deducted by the payer at the time of making payment to the payee.

• It is deducted on various types of income such as salary, interest, commission, etc.

• The deducted TDS amount is then deposited with the government.

• The payee can claim credit for the TDS amount deducted while filing their income tax return.