- TDS (Tax Deducted at Source)
- Tax the payer deducts before paying you — salary, interest, rent — and deposits directly with the government on your behalf.
- TAN
- Tax Deduction and Collection Account Number. A 10-character number every deductor (your employer, in this case) must hold to deduct and report TDS.
- PAN
- Permanent Account Number. Your own 10-character identifier, used to match TDS deposited against your name in government records.
- TRACES
- TDS Reconciliation Analysis and Correction Enabling System — the government portal where Form 130 is generated and downloaded. Nothing issued outside it is valid.
- Deductor
- Whoever deducts the tax before paying you — your employer for salary, or a specified bank for a senior citizen's pension/interest.
- Deductee
- You — the person whose income had tax deducted at source.
- Quarterly TDS statement
- The return your employer files every quarter reporting all TDS deducted. Form 130 can't be generated until this is filed accurately.
- Tax Year
- The Income Tax Act, 2025's term for what was called the "Financial Year" — 1 April to 31 March, the period income is earned in.
- Assessment Year
- The year following the Tax Year, in which that income is assessed and the return filed. Form 130 for Tax Year 2026–27 is issued in 2027.
- Specified senior citizen
- Under Section 402(39), a senior citizen (typically 75 years or older) whose pension and FD interest TDS is handled by an authorised bank rather than an employer.
- AIS / 26AS
- Your consolidated tax statements on the income tax portal, showing all TDS deposited against your PAN — the record you cross-check your Form 130 against.
- Part A, B, C
- The three sections of Form 130: Part A identifies employer and employee, Part B summarises quarterly TDS, Part C pre-fills your full salary-to-tax computation.