TDS: Tax Deducted at Source
The full form of TDS is “Tax Deducted at Source“. It is a means of collecting income tax in India, under the Indian Income Tax Act of 1961. Tax Deducted at Source (TDS) is one kind of advance tax. The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government. For the deductee, the deducted TDS can be claimed in the form of a tax refund after they file their ITR. It is managed by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue managed by Indian Revenue Service (IRS).
TDS is deducted on the following types of payments:
- Salaries
- Interest payments by banks
- Commission payments
- Rent payments
- Consultation fees
- Professional fees
Other full forms of TDS
| Full Form | Category |
|---|---|
| Tabular Data Stream | General Computing |
| Tactical Data System | Military |
| Talent Data Systems | Companies & Firms |
| Technical Data Sheet | Products |
| Technical Database Services, Inc. | Companies & Firms |
| Technical Design Specifications | Software |
| Telephone and Data Systems, Inc. | Companies & Corporations |
| Temperature Detection System | Military |
| Terra Del Sol | Geology |
| Tex Directory Structure | General Computing |
| The Dark Soldiers | Science Fiction |
| The Death Squad | Military |
| The Drunk Snipers | Military |
| Thermal Desorption Spectroscopy | Electronics |
| Thermal Desorption Spectrum | Chemistry |
| Tokyo Disney Sea | Companies & Firms |
| Tomchak Database Solutions | Companies & Firms |
| Total Debt Service | Accounting |
| Total Dissolved Salts | Ocean Science |
| Total Dissolved Solids | Chemistry |
| Total Distribution System | Military |
| Total Domestic Sales | General Business |
| TRADOC Documentation System | Military |
| Training Depot Station | Military |
| Training Development Study | Military |
| Training Device System | Military |
| Transient Discriminating Suppressor | Electronics |
| Transportation Data Sampler | Transportation |
| Trash Data Segment | Assembly |
| Travel Document System | US Government |
| Traverse des Sioux Library System | Libraries |
| Triangulation Data Structure | Mathematics |
| Tripod Data Systems | Companies & Firms |
| Trojan Defense Suite | Cyber & Security |
| Trojan Defense Systems | Software |
| True Dimensional Sound | News & Media |
| Turbo Debugger Symbol table | File Extensions |