Tcs

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vijay.v.kulkarni

vijay.v.kulkarni (Querist)
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12 November 2011 Please give some examples of TCS

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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14 November 2011 TCS is collected in addition to the sales prices of certain specified items. For eg. on sale of scrap TCS to be collected is 1.133% Say for 100sale of scrap you have to collect TCS @ 1.133% = 1.13So. you must recieve101.13

also noted that to be deposited with bank into respective accounts

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vijay.v.kulkarni

vijay.v.kulkarni (Querist)
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14 November 2011 Thank you sir please give information about TCS.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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15 November 2011 TCS is tax collected at source for example Mr. A has deducted TDS of Mr. Bfor paying him Interest on loan and he has collected this money and has not deposited till now then it is TCS for mr. A.......and as and wen mr. A will deposit this amont to any bank...or directly to the credit of central govt. then this will become TCS for that bank.......

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