TDS/TCS

TDS is tax deducted at source where as TCS is tax collected at source.

Whenever any person makes u a payment ( int,,comm.,fees etc.) covered under  IT tds provisions then he wl deduct a prescribed % of TDS while crediting it to ur account or  making payment whichever is earlier.

while in TCS, the seller wl collect tax (under sec 206C) from u and deposit it wid the central govt.