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Awareness and Impact of TDS

Awareness and Impact of TDS

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Published by: praveenmzp on Mar 28, 2010
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Tax Deduction At Source
The purpose of research is to discover answers to questions through the application of scientific procedures. Through each research, study has its own specific purpose, we may think of researchobjectives as falling into a number of following broad groupings:
To know the Awareness of TDS among the assesses.
To know the Impact of TDS on assesses.
Tax Deduction At Source
The foundation of an effective and stable public finance system of acountry lies in its tax system. A state has to bring about a compulsoryexaction from its subjects with the object, of course, of carrying out itsmultifarious functions as a welfare state. This compulsory exaction isreferred to as
. The taxation policy of a state aims to addressits legitimate need to collect tax revenues to fund public services and toeliminate competitive distortion faced by local industries, trade and commerce. It works as a vibrantinstrument of stimulating industrial growth, promoting exports, regulating imports, nurturing domestictrade and commerce and thereby generating employments and furthering economic progress of thestate. Tax is also said to be the price, we pay for civilized society.
The history of taxation is traced back to the progressive days of civilization.The Great Wall of China, built about two thousand years ago, is the world’s most massive public project built with the world’s earliest form of taxes; ‘the human labour’.In Egypt, during the reins of the Egyptian Pharaohs, tax collectors, known as scribes, once imposed atax on cooking oil. They carried household-audits to ensure that the citizens consumed appropriateamount of cooking oil and did not resort to any alternate cooking-medium.
Tax Deduction At Source
In Greece, a tax called ‘EISPHORA’ was imposed in times of war to pay for the special wartimeexpenditure. However, when additional resources were gained by the war efforts, the tax wasrefunded. Athenians also imposed a monthly poll tax, called “
” on foreigners and people,whose parents were not Athenian.In England, the first tax was assessed during occupation by the Roman Empire. In the Magna Carta of 1215, the traces of tax called ‘aids’ are found. The taxes during 14
century was very progressive. Atax on movable property was also imposed on merchants. In 1798, the Prime Minister, William Pittinvented ‘income tax’, while straining to muster every resources to protect the beleaguered BritishCrown. Under the earliest taxing schemes, income tax was imposed on the wealthy, office holders andthe clergies. The poor paid little or no tax.The earliest taxes in Rome included customs duty on imports and exports called “
Italian city-states levied a tax in the 1200s and 1300s, called the “
on mercantile property intimes of war. Napoleon’s
taxed income from trades and professions.
the mosturbanized part of Europe, levied its first income tax in 1797,
in 1799, Duchy of Baden in 1808and Russia in 1812, the year Napoleon invaded it.In colonial
Colonists were paying taxes under the Molasses Act, which was modified in 1764to include import duties on foreign molasses, sugar, wine and other commodities. The new Act wasknown as the Sugar Act. To add revenue, Stamp Act was added in 1765, which imposed a direct tax onall newspapers
 printed in the colonies and several types of commercial and legal documents.

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