TDS Meaning | What is Tax Deducted At Source (TDS)? | UBS

TDS- Tax Deducted At Source means collecting income tax in India, under the Tax Act, 1961. It is a system to collect tax from the very source of income. An employee who is liable to make payment to any other person shall deduct tax at source and deposit it to the account of the Central Government through any of the designated branches of banks authorized by the Government Of India.