Tag Archives: #IncomeTaxFAQs

Why TDS is deducted?

  Tax Deducted at Source   Tax Deducted at Source is deduct by the person making the payment to someone else (i.e. deductor) when the payment exceeds a certain threshold limit. The purpose of TDS is to collect tax at the source of income, rather than collecting it at the end of the year. TDS… Read More »

If I am under 18, do I have to pay taxes in india?

  Under 18 and taxes in India?   Under 18 and taxes in India: Yes, even if you are under 18 years old, you may still be required to pay tax in India if you have income that is taxable. The Income Tax Act, 1961, does not provide any exemption from tax liability based on… Read More »