CrunchBase(0.00 / 0 votes)Rate this definition: Aras. Aras is a suite of open source Product Life Cycle Management (PLM) software solutions that run on a model-based SOA application framework.
What is a 'Tax Deduction'. A tax deduction is a reduction in tax obligation from a taxpayer's gross income. Tax deductions can be the result of a variety of events that the taxpayer experiences over the course of the year. Tax deductions are removed from taxable income, also known as the adjusted gross income, and thus lowers the taxpayer's overall tax liability.
TDS is a certain percentage deducted at the time of payments of various kind such as salary, commission, rent, interest on dividends etc and deducted amount is remitted to the Government account.he person/organization deducting the tax is called as Deductor while the person from whom the tax is deducted is called Deductee. Deductor is also termed as Employer and Deductee is termed as an Employee in cases where the payments are Salaries.