Tds and tcs
This query is : Resolved
Harsh Nathani
(Querist)
17 September 2012
What is difference between TDS and TCS ? Please also provide an example.
chetan soni
(Expert)
17 September 2012
TDS is tax deducted at source. This means this is the deduction on expenses side. Almost all king of expenses can be part of this, except purchase of goods.
TCS is tax collection at source. This means this is the deducted by the customer from the our receivables so its deduction on income side.
TCS is tax collection at source. This means this is the deducted by the customer from the our receivables so its deduction on income side.
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