What is the full form of TDS?

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    • Tax deducted at source is a method of collecting income tax in India and is governed under the Income Tax Act of 1961. An employer deducts tax before paying salary to an employer. The tax is deposited by the employer on behalf of employee to tax authority. The same process is followed in case of any consultancy services availed by a firm. In lieu of the deductions the deduct-er is supposed to produce a TDS certificate and hand it over to the deductee.

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