Have you ever looked at your salary slip and wondered why someone stole your money before crediting it to your account? Or have you checked your bank account and wondered why the interest you earned was less than you expected? One common explanation for such deductions is TDS – Tax Deducted at Source TDS is a common part of India’s income-tax system, but many people do not understand what it means. Some people think that TDS is additional tax, while others are puzzled by the whole idea of tax deduction before income. In short, TDS means that tax is deducted at the time certain income is paid/credited to a person, instead of waiting till the end of the financial year to calculate and deduct the tax. In this article, let us understand what TDS means, why it is deducted, where you can find it, what is Form 16 all about and what happens if more TDS is deducted than your actual tax liability. What Is TDS? One look at the name and we get a rough idea about the concept. For some i...