Dear all,
I am puting here process for collect TCS:
Scrap 50000
Add: TCS 1% 500
Sub total 50500
Add: VAT 4% 2020
Total 52520
Is above right?
Please help me!!!
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How to calculate tcs?
Replies (2)
Scrap 50,000
+VAT 4% 2,000
Sub Total 52,000
+TCS 1% 520
52,520
Example, A Sells timer from forest lease to B(Resident company), For Rs
50000.00,The calculation will be as under.
Timber 50000.00
TCS @ 2.5% 1250.00
51250.00
Vat @ 4% 2050.00
Total Bill 53300.00
https://mirror.tallysolutions.com/Downloads/TallyPDFs/BAP/Implementation%20of%20TCS%20in%20TallyERP%209.pdf
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