Information about tcs

Tds means tax deducted at source i.e any tax whch has been deducted while paying someone or while receiving income from someone refer sec. 194 for details while TCS is tax collected at source for example Mr. A has deducted TDS of Mr. B for 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 when mr. A will deposit this amont to any authorised bank...or directly to the credit of central govt. then this will become TCS for that bank.......

Full form of TDS is tax deduction source it is the tax which is deducted for the parties by company and it is a expense for company. Full form of TCS is tax collection source it is the tax which have to be collected by company from other's and it is a income for the company.