TDS or Tax Deducted at Source is a system of tax collection used in India. Under the TDS system, a person or entity responsible for making certain payments, such as salary, interest, rent, or professional fees, deducts a specific percentage of tax from the payment at the time of making the payment.
Tax authorities use Tax Deducted at Source (TDS) to collect taxes at the source of income.
After the TDS return is filed with NSDL. If there are errors, the TDS return must be rectified.
The changes or updates done in the statement are known as the corrected TDS statement. If the TDS return filed is inaccurate, a deductor must submit the corrected TDS statement.
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