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tcs&tds

This query is : Resolved 
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(Querist)
09 March 2010 Hi all,
what is the difference between tds and tcs? kindly help me.

regards


deepak
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Rahul Vora

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Rahul Vora (Expert)
10 March 2010 TDS - Tax Deducted at Source
TCS - Tax Collected at Source

TDS - Tax to be deducted on payment / accounting of expenses
TCS - Tax to be collected on sale of scrap, alcoholic beverages etc.

In both the cases, tax to be deducted / collected and pad to the govt.
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
16 March 2010 agree with Rahul
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