TDS / TCS.
This query is : Resolved
17 October 2008
What is the difference between TDS and TCS? And where is TCS Applicable.
S.Srinivasaraghavan
(Expert)
17 October 2008
TDS-Tax deducted at source
TCS-Tax collected at source.
TCS is applicable, for example, when sale of scrap is made and at the point of collection of money towards sale, income tax is also collected.
TCS-Tax collected at source.
TCS is applicable, for example, when sale of scrap is made and at the point of collection of money towards sale, income tax is also collected.
SANJAY VERMA
(Expert)
17 October 2008
refer to section 206c for applicability of tcs
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