Tax Collected at Source (TCS)
This query is : Resolved
10 March 2011
Hello Friends,
I wanted to know what exactly is the concept of TCS. how is it different from TDS and what are the rates for the prescribed sectors.
I've got only limited info in this regard that its related for profits and gains from sale of scraps, alcoholic beverage bossiness, toll collection, and mining sector.
But what i mainly want to know is the concept of TCS and also its procedure..
Advance Thanks for your valuable time and knowledgeable replies..
Hello Friends,
I wanted to know what exactly is the concept of TCS. how is it different from TDS and what are the rates for the prescribed sectors.
I've got only limited info in this regard that its related for profits and gains from sale of scraps, alcoholic beverage bossiness, toll collection, and mining sector.
But what i mainly want to know is the concept of TCS and also its procedure..
Advance Thanks for your valuable time and knowledgeable replies..
11 March 2011
Dear Deekshit visit the link: http://www.simpletaxindia.org/2008/12/tax-collection-at-sourcetcs-provisions.html
14 March 2011
Thanks you sir,
now I understood the concept.
But the other thing which i want to know is that is TCS applicable for Mining Sector. I didn't see that being mentioned anywhere in the list of services. whereas I've come across situations where TCS is deposited with bank by an enterprise involved in business of mining of granites and marbles.
now I understood the concept.
But the other thing which i want to know is that is TCS applicable for Mining Sector. I didn't see that being mentioned anywhere in the list of services. whereas I've come across situations where TCS is deposited with bank by an enterprise involved in business of mining of granites and marbles.
14 March 2011
TCS is applicable on all natural productions whether it is from jungle or minning.
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