19 May 2011
TCS is tax collected at source by seller. Hence the buyer gets the credit. It wont be disallowed in the case of buyer. If the seller fails to collect tax at source, such amount shall be added in the income of the seller.
20 May 2011
but why........... it is in the natuure of direct tax as if buyer has paid tax on its own income which he is going to earn by sale of that product
CAclubindia
