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Adjustment of TCS

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(Querist)
16 December 2008 Can a company adjusted TCS Amt.from his income.

companys product is paper
he purchase fire wood charged tcs on bill
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
16 December 2008 Yes, TCS is also adjusted like TDS against your tax liability while preparing your return.
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Jiwan singh

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Jiwan singh (Querist)
16 December 2008 Please note - Material purchase (TCS Involved) is not a raw material
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