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Tax Deduction at Source is a means of collecting tax on income, dividends or asset sales, by requiring the payer to deduct tax due before paying the balance to the payee whereas Tax Collection at Source is an additional amount collected as tax by a seller of specified goods from the buyer at the time of sale over and above the sale amount and is remitted to the government account.


As per Income Tax Act, 1961, all corporate and government deductors/collectors are compulsorily required to file their TDS/TCS returns on electronic media (i.e. e-TDS/TCS returns).








Benefits of filing TDS/TCS Return:


£ It prevents people from evading taxes.


£ It ensures a steady source of revenue for the Government.


£ The Tax Collection base is widened.


£ The burden of responsibility of the Tax Collection Agencies and the Deductor are lessened.


£ It is convenient for the deductee as the Tax is automatically deducted.



The amount deducted as the TDS depends on the amount you earn. TDS stars getting deducted after you start earning. Both the government & the tax-payers get benefitted from TDS.