TDS Full Form Name: TDS Meaning
Full
Form of TDS :
Tax
Deducted at Source
TDS
Full Form is Tax Deducted at Source.
TDS is the revenue collected at the source of income. According to Income Tax
Act – 1961, this is a form of income tax collected in India. The revenue
generated by TDS is controlled by Central Board for Direct Taxes or CBDT, as
CBDT is a part of the Revenue Department. TDS plays a crucial role during
audits. One has to pay TDS on selective types of incomes such as immovable
property, on rent, on contracts, on certificates etc.
Other
types of income which require TDS include; interest on deposits or bonds in
banks, winning lotteries, winning horse races, paying salary to employees, and
more. The amount deducted for TDS varies depending on the government and the
type of income that is involved. The Income Tax Department expects individuals
to file deductions on prescribed forms every quarter within the given due
dates.
TDS
Full Form – Additional Information
To
run the country efficiently the Government needs funds. These are collected
from the people through various means like income tax, sales tax, and other
similar sources. TDS or Tax Deducted at Source is one of the ways through which
the government gets tax, as it is related to income tax.
What
is TDS?
It
is a well-known fact that many people avoid paying income tax. Thus, the
Government loses a lot of revenue. However, through the system of TDS, the tax
is deducted efficiently at the origin of income like the sale of property,
getting interest on deposits or commission in trade etc. So before the entire
amount is paid to the receiver, the giver deducts the tax amount variable from
1% to 10% as the case may be, and deposits it with the Government. The
remaining amount is paid to the receiver with a certificate of the TDS paid.
For
example, during the sale of the property, the buyer cuts the TDS from the
amount to be paid at the rate of 10% and then after depositing it with the
Government, obtains a certificate for the tax paid. This along with the
remaining payment is handed over to the seller and the deal is complete. Since
the generation of income was through sale, the TDS is cut at that very point.
This is as good as Advance Tax and any attempt at bypassing the payment of TDS
is an offense by law.
What
are the categories that need TDS?
As
per Income Tax law, any person getting income from any of the below-mentioned
sources is liable to pay income tax that is usually deducted at source of
income itself. This tax that is cut instantly is known as TDS. It is mandatory
payment from:
- Salary paid to you at the
workplace.
- Interest on debentures /
securities and dividends
- Payment to a contractor
- Winning from horse race
gambling
- Winning from crossword puzzles
/ card games / lottery or any other similar game
- Commission obtained from sale
of lottery tickets / insurance, etc
- Sale of immovable property with
the exemption of rural agricultural land.
- Rent of machinery and plant
- Rent of building / fittings /
land / furniture etc.
- Remuneration or royalty paid to
a Director
- Professional and technical
services fees
All
these categories have different rates of TDS applicable. They range from 1% to
maximum of 30% as in the case of income through gambling (races, lottery etc).
Nonetheless, there are exemptions for defined minimum limit of income in every
case. Over and above that limit, the income is liable to TDS. The TDS is always
deducted by the payer on behalf of the payee and the amount is credited to tax
department of the Government.
Is
the TDS Refundable?
Tax
Deducted at Source (TDS) is a form of Direct Tax obtained by Income Tax
department on behalf of the Government. Usually, it is calculated at the origin
of income and charged to the taxpayer. However, sometimes it exceeds the exempted
slab of income and thus excess tax is paid. Under such circumstances, the payee
can claim a tax refund by filing returns form. The actual tax paid by the payee
is then considered as against the tax benefits that were entitled to him. Then
after filing his income returns, the payee can demand a refund of the TDS that
has been deducted. It is either refunded in full or part thereof, after final
calculations of the returns filed.
Just
like a person is required to have a PAN or Permanent Account Number, the person
who deducts the tax is supposed to obtain a TAN or Tax Deduction Account
Number. This number is to be quoted in all documents related to TDS. There are
conditions under which TDS is not required to be paid. For example, in the case
of dealing with immovable property, there is no TDS applicable till the value
of rupees fifty lakhs. If the property transaction value exceeds this limit,
then TDS is charged.
Consequences
of not paying TDS
As
per Income Tax Law, it is mandatory to pay a tax on any source of income that a
person has. The Department of Direct Taxes ensures that these taxes are
collected conveniently in advance directly from the source of income to avoid
any tax evasion. However, there are people who try to bypass this procedure and
request the payer to pay the full amount without cutting the TDS.
This
is considered as a crime and the payer as well as the payee can come in trouble
due to this. The Tax Department has a right to demand the tax from the payee
and if he fails to comply, then a penalty can be levied or it can be treated as
a crime punishable by up to seven years in jail.
Taxes
are collected by the Government to add to the reserves of the country so that
the money is utilized for the betterment of the country. However, if one tries
to forgo the taxes it is like cheating the Government and incurring losses.
Under certain cases, there can be interest charged on unpaid tax amount. Thus
to avoid the penalties and punishment it is advisable to pay the TDS and if you
feel that it is overpaid, then claim for a refund.
How
to save TDS
There
are many circumstances when TDS can be saved. If your income is below taxable
limit, then if the TDS is getting from your fixed deposit interest, then the
bank can be requested to waive off TDS by submitting Form 15G or Form
15H. The former form is for general public, whereas the Form 15H is for Senior
Citizens above the age of 60 years. Similarly, TDS can be saved on deposits
made under HUF (Hindu Undivided Family). Such deposits are eligible for tax
benefits.
TDS
on interest is applicable if it exceeds rupees 10,000 in the financial year.
The higher interest is obtained on a bigger sum of deposit. However, if you
break the deposit in smaller amounts and spread it in different banks, then it
is easier to save on TDS due to lower interest input every year.
In
order to save TDS cut in salary, the employee can request the employer to give
a break-up of travel allowance, medical bills as well as meal allowance so that
the gross taxable amount is reduced considerably because of tax exemptions on
these categories. If it helps in bringing the salary down to the threshold
limit, then there are chances that TDS can be waived off. As honest and
diligent citizens of India, it is every individual’s duty to pay taxes on a
regular basis. However, under present high expense living age if one can save a
few bucks, then it is really helpful.
TDS
Full Form: Total Dissolved Solids
Full
Form of TDS stands for Total Dissolved
Solids. TDS is a calculation of the constitutive content of substances,
whether organic or inorganic, those are gathered in a liquid in various forms.
Those various forms are molecular, or granular suspended form of various sizes.
The TDS is also understood in its functional aspects: solids concerned must be
of a size small enough to withstand filtration with the help of a filter,
having two-micrometer pores.
These
types of solids are usually studied in respect of freshwater environments
because salinity involves ions of TDS. It is to be understood that when we
study water quality for systems like a lake, stream, and lakes, TDS is taken
into account irrespective of the fact that it does not constitute a portion of
major pollutants in water systems.
Let
us discuss briefly various sources of TDS: runoff from agricultural and
domestic households; soil contamination, run-offs from sewage treatment units,
etc are the primary sources. The common chemicals found in these sources are
calcium, sodium, phosphates, chloride, potassium, and nitrate, which may be in
a form of cations, anions, and molecules.
Full
Form of TDS: The Daily Show
TDS
Full Form stands for The Daily Show.
Famously known as The Daily Show with Jon Stewart (between 1999 and 2015) and
The Daily Show with Trevor Noah (2015 onwards), refers to one of the most
popular American late-night talk shows based on satirical genre. The show airs
regularly, each on Monday on the channel Comedy Central and on the channel The
Comedy Network in Canada.
The
TDS is a self-proclaimed fake news program that makes satirical comments on
latest news or controversies that have brought heat on social media. The news
or controversies may be related to political, media organizations, or often
itself. The entire comical representation of the show has made it one of the
most watched talks shows and it is especially popular among young audiences.
According
to the famous survey giant, Pew Research Center, about 74 % of the viewers are
between the ages 18 and 49, with about 10% of the audience watch the show for
news headlines. Despite several criticisms relating to the show especially
those pertaining with criticism on Stewarts weak, unimpressive interviews with
politicians, the show is a major hit.
The
show was premiered on July 21, 1996, with Craig Kilborn, who was eventually replaced
by Jon Stewart, who became the host from January 11, 1999. For quite some time,
the show focused its content on political issues circulating in media and this
was especially during Jon’s tenure.
TDS
Full Form: Tenancy Deposit Scheme
Full
Form of TDS refers to Tenancy Deposit Scheme.
Also known as the Tenancy Deposit Scheme (England and Wales), is a statutory
scheme that forms a part of the provisions contained in the United Kingdom
Housing Act 2004. Under the same Act, every landlord or letting agent that
obtains deposits over an “assured short hold tenancy” (a default class of
residential tenancy prominent in England and Wales) must mandatorily join the
Tenancy Deposit Scheme (hereinafter referred to as TDS).
The
purpose of introducing the TDS is because of a common practice of landlords to
ask the tenant to deposit a certain amount when the tenancy begins. This
deposit is taken as an assurance in cases where tenant causes damage to
property in one way or the other. However, there have been cases where
landlords do not return the deposits at the end of the tenancy. This practice
was unregulated until the United Kingdom Housing Act 2004 came up with
provisions to control such unscrupulous activities.
There
are three companies are authorized by the United Kingdom government to operate
tenancy deposits. The three schemes are The Tenancy Deposit Scheme, which
provides insurance; Mydeposits, which is again an insurance providing scheme
and the Deposit Protection Service, which is a custodial scheme.
Full
Form of TDS: Tabular Data Stream
TDS
Full Form stands for Tabular Data Stream.
It refers to a protocol that is application based. This protocol is used to
transmit data from a database server to a client and vice versa. Sybase Inc.
has originally created the TDS for the purpose of Sybase SQL Server Relational
Database engine in the year 1984 but later it was developed by Microsoft for
the purpose of its Microsoft SQL Server.
The
creators at Sybase acknowledged that there was a lack of an application based
protocol. So when it came to promoting its products, the company conceptualized
an idea where a pair of libraries known as netlib and db-lib were used for the
implementation of a standard form of SQL. An additional library was also
incorporated into the protocol, which was known by the name blk, which was used
to implement bulk copy.
In
the year 1990, Sybase came into an agreement with Microsoft wherein the latter
would market the protocol as Microsoft SQL Server. The TDS technology is not
usually open because they are regarded as proprietary technology, with the only
exception was TDS 5.0 used by Sybase, for which open documentation is
available. This State changed when Sybase came into agreement with Microsoft.
TDS
Full Form: Telephone and Data Systems, Inc
Full
Form of TDS refers to Telephone and Data
Systems Inc. TDS is a public company based in Chicago. It is primarily a
telecommunications company that facilities services in areas relating to
wireless, and large distance telecommunications, broadband, and others. Its
services cover about seven million customers from across 36 states.
It
extends its services with the help of its business units, TDS telecom, and the
United States Cellular. This telecommunication giant started off as a small,
rural company in Wisconsin in the year 1969. However, with time it grew
stronger and larger and eventually founded its own subsidiary, the United
States Cellular, in the year 1989.
Full
Form of TDS: Tripod Data Systems
TDS
Full Form stands for Tripod Data Systems.
It is a tool for making your handheld devices compatible with rough, intense
environment. The purpose of this technique is to make a handheld devices
function in the most rigorous environment without technical hassles. The TDS
helps in ensuring proper functioning in devices. The TDS offers many products
pertaining to Military, Sports, recreational facilities, Forestry, Environment,
Food Services, etc. Its products are often used for Nikon Total Solutions,
Survey pro, and other big brands.
TDS
Full Form: Thermal Desorption Spectroscopy
Full
Form of TDS stands for Thermal Desorption
Spectroscopy. TDS is another name for Temperature Programmed Desorption
(TDP). It refers to a methodology used in assessing desorbed molecules from a
surface when the surface temperature rises. There is controversy regarding the
name TDS because many scientists and scholars believe that this is a not a
method involving spectroscopy.
Let
us understand desorption for greater appreciation. Whenever molecules come into
direct contact with a surface, they are absorbed into it. This causes reduction
of the molecular energies due to the formation of a bond with the surface. The
energy with which molecules bind is called as binding energy and this energy
varies with the characteristics of the surface. When the surface is heated,
there comes a point when the energy transferred into absorbed molecules will
cause them to desorb. The temperature at which such activity happens is called
the desorption temperature.
In
order to calculate TDS, a mass spectrometer is needed like a quadruple mass
spectrometer or a time-of-flight mass spectrometer. The mass spectrometer has
the characteristic of calculating many masses simultaneously and the intensity
of each mass calculated is obtained as a TDS spectrum. The PID control
Algorithm is responsible for regulating the heating process.
TDS
Full Form: Texas Disposal Systems
Full
Form of TDS refers to Texas Disposal Systems.
Waste collection and management is an essential task for every nation, fighting
with pollution that has gripped the world. Proper disposal mechanisms are
immediately required for proper collection and management of the waste without
much prejudice to environmental needs. There have been many attempts to ensure
proper, robust disposal systems and one such is Texas Disposal Systems, which
is also known as the TDS.
The
TDS was established by two brothers namely, Bob and Jim Gregory. These two
determined brothers started off with this ambitious project with meager
financial resources and one truck. With its unflinching determination, the TDS
has grown to become the largest independently run solid waste disposal company
in Texas and is among one of the largest such companies in the United States.
The TDS has developed itself into a strong company with several branches spread
throughout the nation. It has branches at Saint Antonio, Georgetown, Alpine,
Sealy, Weimar, etc. It runs a TDS landfill, which is located in Travis County,
that functions as solid waste disposal mechanism.
The
TDS landfill is the first of its kind in the state, being the first completely
integrated operational facility. The TDS has also initiated the Texas Organic
Products (TOP), which was massive scale composting operation. The TDS has
expanded its reach by means of many acquisitions. It acquired Garden-Ville in
the year 2001 and made it a retail center for the purposes of compost products
generally used by professionals and gardeners.
Full
Form of TDS: Technical Diagnostic Services
TDS
Full Form stands for Technical Diagnostic
Services. TDS is a service provider that engages in the Electrical
Equipment industry. It also provides assistance to projects by providing from
its lot expert field engineers, testing know-how, and electrical equipment
necessary to satisfactorily complete the project. The credibility enjoyed by
TDS is immense because it has more than 20 years of experience, which in itself
is a big factor.
It
has large experience in giving services pertaining to technical skills and
consulting expertise. It provides electrical equipment from manufacturers like
Fluke, Megger, Emerson, Doble, etc. The TDS runs the TDS Testing & Start-up
Services that provides many career opportunities to engineering and expert
technicians.
TDS
Full Form: Tokyo Disney Sea
Full
Form of TDS stands for Tokyo Disney Sea.
Anything that is Disney is magical and beautiful and so are Disney-themed parks
that captivate hearts of not only young but also adults. So this article will
discuss a Disney theme park, the Tokyo Disney Sea, which is also known as TDS.
The
TDS is a Tokyo-based theme park situated at the Tokyo Disney Resort. The park
is located in Urayasu, Chiba, Japan. The TDS is owned and operated by The
Oriental Company that licenses Disney characters and themes from the Walt
Disney Company.
It
is one of the most visited theme parks in the world, with an estimated 14
million persons visiting in the year 2013. It is the fourth most visited theme
park in the world and also wears the crown for the fastest reach to 10 million
guests in merely 307 days after its opening.
The
park is based on the theme “exploration, nautical, and adventure” and it
achieves this purpose by bringing implementing Disney characters and colors
into the park. It is inspired by the Southern Californian theme park “Port
Disney” in Long beach, California, which had the RMS Queen Mary as the center
of attraction.
Full
Form of TDS: Travel Document Systems
TDS
Full Form stands for Travel Document
Systems. TDS has provided services to many professional and individual
international travelers in respect of quick visa, passport, and other
documenting needs.