Tax Deducted at Source/Tax Collected at Source is introduced by Government for prevent tax evasion and ensures regular inflow of cash resources. The concept of Tax Deducted at Source / Tax collected at Source requires that the person, on whom responsibility has been cast, is to deduct tax at the appropriate rates, from payments of specific nature which are being made to a specified recipient. The recipient from whose income tax has been deducted at source gets the credit of the amount deducted in his personal assessment on the basis of the certificate issued by the deductor. |