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TDS stands for Tax Deducted at Source which entails collection of revenue at very source of income. To explain it further, tax is deducted by the payer and is remitted to the Government by the payer on behalf of the payee. TDS is applicable to several payments such as salary, interest, commission, brokerage, professional fees, royalty, contract payments, etc. Pertaining to all the payments where TDS is applicable, the payer needs to deduct tax at source on the payments levied by him and in turn has to forward the tax deducted by him to the Government. TDS return is to be filled every quarter for the tax deducted and levied to the credit of the Government during the quarter.