TDS under GST (Section 51)
A GST compliance obligation requiring specified categories of deductors (government bodies and others) to deduct tax at source on payments to suppliers above a threshold.
Related terms
- TCS under GST
Tax Collected at Source — a GST compliance obligation requiring e-commerce operators to collect tax on the net value of taxable supplies made through their platform.
- TDS (Tax Deducted at Source)
Income tax deducted at the point a payment is made (salary, contractor fees, rent and more) and deposited with the government on the payee's behalf.
- Test of Controls
A procedure to evaluate the operating effectiveness of a control in preventing or detecting material misstatements, as distinct from a substantive procedure on the balance itself.
- Those Charged With Governance (TCWG)
The person(s) or organisation(s) responsible for overseeing the strategic direction and obligations of an entity, such as its board or audit committee — the audience for the auditor's communications beyond management.
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