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TDS stands for Tax Deducted at Source. It is a certain amount of charge levied by the GOI on the income earned by an individual in a given assessment year for the previous year. The government has prescribed certain norms for every earning Indian citizen, in order to maintain a fair economy by taxing the rich and exempting the poor ones.
TDS is levied as per the IT Act, 1961 and holds true for each and every earning citizen of India.
Read More :Tax Deducted at Source (TDS): Types, Eligibility, Certificate & Returns