Difference between TDS and TCS
This query is : Resolved
21 December 2009
Dear Experts,
Could you kindly tell me, what is the basic difference between TDS and TCS. Also to which sector the TCS is normally applicable.
Could you kindly tell me, what is the basic difference between TDS and TCS. Also to which sector the TCS is normally applicable.
21 December 2009
TDS- Tax Deducted at source Generally Deducted by the person who is making payment against the expenses ( for services received )
TCS- Tax collected at source When the sellr of the follwing goods as specfied U/s.206(1)
1.Alcoholic Liquor for Human consumption
2.Tendu Leaves
3.Timber Obtained under a forest lease
4.scarp
5.Parkinglot,toll plaza,mining and quarrying
while selling the seller collecting from the buyer of the particular product
TCS- Tax collected at source When the sellr of the follwing goods as specfied U/s.206(1)
1.Alcoholic Liquor for Human consumption
2.Tendu Leaves
3.Timber Obtained under a forest lease
4.scarp
5.Parkinglot,toll plaza,mining and quarrying
while selling the seller collecting from the buyer of the particular product
21 December 2009
AGREE WITH EXPERT
21 December 2009
mee to agree.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- Copyright software
- Regarding TDS Applicability For Director Remuneration
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
