Advance Tax - Taxpayers are required to pay tax during the year on the basis of their own computation of income. The advance tax is payable on total income of the year from all sources i.e. salary, business, profession etc. (including capital gain, interest, rental income or lottery/prize money). The advance tax is payable if it exceeds Rs.10,000 for the year.
TDS - TDS is stand for tax deduction at source. It is one of the modest means for collecting the Income tax from the assessee in India. It is the indirect method of collecting tax and it is a prepaid payment of tax in previous year in which income receive.
Payroll Tax Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff. Payroll taxes generally fall into two categories: deductions from an employee’s wages, and taxes paid by the employer based on the employee's wages.