The Income Tax Department has released the TDS Rate Chart for FY 2024-25.
Reetu | Mar 20, 2024 |
TDS Rate Chart FY 2024-25
The Income Tax Department has released the TDS Rate Chart for FY 2024-25.
TDS full form is Tax deducted at Source. It is the amount of tax that is deducted by the employer or deductor from the taxpayer and is deposited to the Income Tax Department on behalf of him/her.
TDS is a particular amount deducted when a payment is made, such as a salary, commission, rent, interest, or professional fees. TDS rates are set according to an individual’s age and income.
The person who makes the payment deducts tax at the source, whereas the person receiving the payment/income is obligated to pay tax. It reduces tax avoidance because taxes are collected at the time of payment.
TDS Chart Rate
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