{"id":322,"date":"2022-02-11T13:21:06","date_gmt":"2022-02-11T07:51:06","guid":{"rendered":"https:\/\/total-sols.com\/blog\/?p=322"},"modified":"2023-03-13T13:10:10","modified_gmt":"2023-03-13T07:40:10","slug":"tds-tax-deducted-source","status":"publish","type":"post","link":"https:\/\/total-sols.com\/blog\/tds-tax-deducted-source\/","title":{"rendered":"TDS (Tax deducted @ Source)"},"content":{"rendered":"\n<p>Dear Young Accounting Aspirants, today let us talk on\nTDS which is also tedious for many of us including Professionals.<\/p>\n\n\n\n<p>The full form of TDS is Tax Deducted @ Source. Let us\ninterpret this in more detail.&nbsp; Deducted @\nSource means deduction at the time of Transaction; it qualifies as Direct Tax.<\/p>\n\n\n\n<p>To make it clearer, let us clarify. &nbsp;TDS is applicable to those with tax audit and\nspecified criteria. &nbsp;Assessees whoever\nneed to deduct TDS and pay have to get themselves registered and obtain a TAN\nnumber i.e. Tax account number. Most people have doubts whether the deductee\nhas to have a PAN number. The Answer is Yes. &nbsp;As the Act implies PAN as mandatory, those\nwithout PAN will be subject to a deduction of TDS @ 20%.<\/p>\n\n\n\n<p>The major transactions that attract TDS over a\nspecified limit are Salary, Professionals, Contractors, Rentals, Commission,\nInterest, specified property transactions.&nbsp;\nAlso TDS is deductible at various specified percentage and transaction\napplicability. &nbsp;The onus of deduction is\non the person paying the amount. &nbsp;Hope\nyou liked this snippet of TDS in a Nutshell\u2026Stay tuned for more.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dear Young Accounting Aspirants, today let us talk on TDS which is also tedious for many of us including Professionals. The full form of TDS is Tax Deducted @ Source. Let us interpret this in more detail.&nbsp; Deducted @ Source means deduction at the time of Transaction; it qualifies as Direct Tax. To make it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[95],"class_list":["post-322","post","type-post","status-publish","format-standard","hentry","category-accounts","tag-tds"],"_links":{"self":[{"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/posts\/322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/comments?post=322"}],"version-history":[{"count":1,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/posts\/322\/revisions"}],"predecessor-version":[{"id":323,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/posts\/322\/revisions\/323"}],"wp:attachment":[{"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/media?parent=322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/categories?post=322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/total-sols.com\/blog\/wp-json\/wp\/v2\/tags?post=322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}