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Income Tax

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31 January 2009 what is the different between TDS and TCS
PLz Explain example of deducting TDS and TCS
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
31 January 2009 TDS means tax deducted at source.

TCS means tax collected at source.

The difference between the two is that when you are paying the salry you know that to whom the benefit is going and you have to deduct tax at source.

Suppose a forest wood is being sold the seller do not know where it will go and what shapes it will be converted. Therefore tax is collected at source.
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