TDS, Advance Tax and Self Assessment Tax कैसे एक दूसरे से अलग है II #tds #advancetax #selfassessment

TDS, Advance Tax and Self Assessment Tax कैसे एक दूसरे से अलग है
TDS kya hota hai
advance tax kya hota hai
self assessment tax kya hota hai

(A) TDS -Tax Deducted at Source

What it is: Tax collected by the government at the source of income – “Pay as you Earn” (Deduct in same FY 2024-25)

Who deducts: The payer (e.g., employer, bank, client) deducts TDS before paying you

When it applies: On salary, interest income, rent, professional fees, etc

Responsibility: On the deductor to deposit with the government

Example: Your company deducts TDS from your salary every month

It’s automatic, and you’ll see it in Form 26AS or AIS.

(2) Advance Tax

What it is: Tax you pay in installments during the same financial year 2024-25 – “Pay as you Earn”

Who Pays: Anyone whose total tax liability for the year is more than ₹10,000 after TDS

When to Pay: 15% by 15th June, 45% by 15th Sep, 75% by 15th Dec and 100% by 15th Mar

Applies to: Freelancers, business owners, salaried people with additional income (like Rent, CG)

Avoids interest penalty under Sections 234B & 234C

(3) Self-Assessment Tax

What it is: Final tax you pay after calculating your total income, while filing your ITR after close of the FY 2024-25 (It paid in AY 2025-26)

When it applies: When Actual Tax Liability more than TDS + Advance Tax paid

When it applies: This is usually paid if you’ve either forgotten an additional source of income, or received unlikely gains, or if there has been any discrepancy in TDS or advance tax calculation

When to Pay: At the time of ITR filing, just before submitting

This is the last step, like settling your final bill

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