What is full form of TDS?

Can some one tell me what is the full form of TDS?

Novice Asked on September 11, 2017 in Others.
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    TDS stands for Tax Deducted at Source. As per the Income Tax Act – persons responsible for making payments are required to deduct tax at source at prescribed rates. Instead of receiving tax on your income from you at a later date, the government  wants the payers to deduct tax before hand and deposit it with the government. It is is a system introduced by Income Tax Department, where person responsible for making specified payments such as salary, commission, professional fees, interest, rent, etc. is liable to deduct a certain percentage of tax before making payment in full to the receiver of the payment. As the name suggests, the concept of TDS is to deduct tax at its source.

    Novice Answered on September 11, 2017.
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