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TDS Amount
Salary payments: Employers deduct TDS from the salary of their employees.
Interest income: Banks and financial institutions deduct TDS on interest earned from savings accounts or fixed deposits.
Rent: Rent payments made by tenants to landlords are subject to TDS.
Professional fees: TDS is deducted from payments made for professional services, such as legal or consultancy fees.
Ensures timely tax collection for the government: TDS allows the government to collect taxes in a regular and efficient manner, ensuring a steady flow of revenue.
Minimizes tax evasion: By collecting tax at the source of income generation, TDS reduces the chances of tax evasion, as it is deducted before the income reaches the recipient.
