Tds and tcs
This query is : Resolved
17 September 2012
What is difference between TDS and TCS ? Please also provide an example.
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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