NON-FILING OF TDS

TDS is short form of 'Tax Deducted at Source'. It was introduced for collecting tax at the source from where an individual's income is generated. It is applicable on the various incomes such as salaries, interest received, commission received etc. 

TDS is not applicable to all incomes and persons for all transactions. Different rates of TDS are prescribed by the Income Tax Act for different payments and different categories of recipients. For example, payment of redemption proceeds by a debt mutual fund to a resident individual is not subject to TDS but for a Non-resident Indian is subject to TDS.

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