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Tax Deduction at Source (TDS)

Definition

A mandatory tax deduction by employers on salary payments as per income tax laws.

Context & Importance

Ensures timely tax collection and employee compliance.

Use Cases

• Deducting tax before salary credit
• Issuing Form 16 for employees

Related Concepts

Income tax, payroll, Form 16.

TankhaPay Relevance

Auto-calculate TDS with slab rates and generate TDS reports/Form 16 for employees.