Tag Archives: #TaxationBasics101

Tax deduction: What is TDS, and how does it work? How is tax levied?

Tax deduction

Tax deduction TDS stands for Tax Deducted at Source, is an Indian taxation mechanism that involves the deduction of income tax at the source of payment. Under this system, a person or entity making certain types of payments such as salary, commission, rent, or fees require to deduct a percentage of the payment as tax… Read More »

What is Terminal Tax?

Terminal tax return

Terminal tax  It refers to the ultimate tax payment that must make by an individual or entity prior to the conclusion of a tax period. This scenario commonly arises for businesses or self-employed individuals who obligate to pay provisional tax throughout the year, estimated based on their projected income. When the tax year concludes, the… Read More »