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What is Time dilation..??
Why the Newton's laws of Motion is wrong..??
Why does the moving clock ticks slower..??
First of all, let us understand the word 'Time dilation'. Time Dilation is an event which makes time dilated( to make wider or larger). Technically, Time dilation is a difference in the elapsed time measured by two clocks, either due to them having a velocity relative to each other or by there being a gravitational potential difference between their locations.
In the year 1686, Sir Issac Newton published his three famous Newton's laws of motion. It all worked well for almost 200 years. But, there was some problem with Newton's laws, these laws worked absolutely well for small velocities experienced on earth, but it predominantly failed for higher velocities, which was noticed by quite a few of them. In 1906, Sir Albert Einstein published his Special Theory of Relativity which completely revolutionized the world of physics. He introduced a different field of physics which was completely unknown at that time. The specialty about Einstein was that he tried to observe the functioning of the world at the light's speed. One of the three consequences of Einstein's Special Relativity is Time Dilation.
Firstly, we need to understand that, there exists nothing such as absolute rest or absolute motion. Each and everything moves relative to one another. Even the Earth is in motion with respect to the Sun. Also, the Sun moves around the centre of the Milky Way galaxy. So, there exist no frame of reference with respect to which, one define absolute rest or motion. Imagine, you are standing on ground and your friend is travelling in a car. Therefore, you are at rest and your friend is in motion with respect to the ground's frame. According to the Time dilation, times runs slow for your friend (Here you need to know that, the both the watches or the clocks used by you and your friend is well synchronized and neither they have any damages which make them behave like that). This is how the nature actually behaves and tries to hide it's mysteries. But at such a lower velocity, the Time dilation experienced is negligibly small. Each and everyone of us experience Time dilation on daily bases, but, on a very small scale.