TDS Rates

One has be sure of the Rates of TDS one is applying for deducting the Tax while making any payment. Rates of TDS must be referred from the income tax act to ensure that one is applying the correct rate. The information about TDS Rates has to be correct otherwise it is possible that the penal provisions of the act is attracted. Not only important is deducting TDS at correct rates but it is also important that the tds deducted is deposited correctly.
The tds deposited should be mentioned in the TDS return that one has to file after complying with the TDS provisions.