ALLInterview.com :: Home Page            
 Advertise your Business Here     
Browse  |   Placement Papers  |   Company  |   Code Snippets  |   Certifications  |   Visa Questions
Post Question  |   Post Answer  |   My Panel  |   Search  |   Articles  |   Topics  |   ERRORS new
   Refer this Site  Refer This Site to Your Friends  Site Map  Bookmark this Site  Set it as your HomePage  Contact Us     Login  |  Sign Up                      
Google
   
 
Categories >> Accounting >> Taxation
 
 


 

 
 Audit interview questions  Audit Interview Questions (422)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (157)
 Taxation interview questions  Taxation Interview Questions (1893)
 Accounting General interview questions  Accounting General Interview Questions (2782)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
Question
What is the difference between TDS and TCS?
 Question Submitted By :: Arijit Roy
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What is the difference between TDS and TCS?
Answer
# 1
Full form of TDS is tax deduction source it is the tax which
is deducted for the parties by company and it is a expense
for company.

Full form of TCS is tax collection source it is the tax
which have to be collected by company from other's and it is
a income for the company.
 
Is This Answer Correct ?    339 Yes 92 No
Naina Jain
 
  Re: What is the difference between TDS and TCS?
Answer
# 2
TDS always deducted on expenses by companies for exceed
limits (not included supply of goods)on different rate of
taxes.


AND
TCS always colleced from others, like on parking lots by
companies
 
Is This Answer Correct ?    156 Yes 54 No
Om. Maliya
 
 
 
  Re: What is the difference between TDS and TCS?
Answer
# 3
TDS is the tax deducted at source tax will be deducted from
the employees salary and employer will pay on behalf of
employee hence it is an expense

Tcs is the tax collected at source the meaning of this
is tax is collected from the party &paid it may be possible
in services
 
Is This Answer Correct ?    114 Yes 34 No
Ravi
 
  Re: What is the difference between TDS and TCS?
Answer
# 4
TDS means tax deducted at source in which tax is deucted on
that amount that company's pays from its profit and it is
shown getting submitted IT return
TCS means tax collected at source inwhich tax is collected
from the various sources for paying tax from there services
has been provided
 
Is This Answer Correct ?    59 Yes 33 No
Raj
 
  Re: What is the difference between TDS and TCS?
Answer
# 5
difference between TDS and TCS is D & C

hai ki Nahi mai pachivi Pass?
 
Is This Answer Correct ?    57 Yes 129 No
Crmdms
 
  Re: What is the difference between TDS and TCS?
Answer
# 6
difference between TDS and TCS
TDS- OUT OF MONEY
TCS-COME IN MONEY
 
Is This Answer Correct ?    72 Yes 54 No
Manoj Kumar
 
  Re: What is the difference between TDS and TCS?
Answer
# 7
TDS is the mode of collecting income tax.It's full form is
Tax Deducted at Sourse. The employer/Payer or deductor
deducts the tax from the payments which is made for
employee/Payee or deductee and deposited it in the
authroised banks or treasury, which is authorised by income
tax departments.

TCS is also the mode of collecting income tax. It's full
form is Tax collected at source. In this the payer or
collector collects tax on the time of payments and
deposited it in the authorised banks or treasury, which is
authorised by income tax departments.
 
Is This Answer Correct ?    83 Yes 17 No
Rajesh Kumar Soni
 
  Re: What is the difference between TDS and TCS?
Answer
# 8
TDS: The tax deduction at source means that the person responsible for making payment of certain income to the income earner deduct income tax at the prescribed rates on such income before payment is made to them.The amt of tax collected is paid to government treasury.

TCS: it is tax collection at source
 
Is This Answer Correct ?    54 Yes 25 No
Anish Tigga
 
  Re: What is the difference between TDS and TCS?
Answer
# 9
TDS is money deducted from worker income and transferred to
the tax authority by the employer...

TCS is money collecting at anywhere like the income of
company....
 
Is This Answer Correct ?    3 Yes 2 No
Rahul Saini
 
  Re: What is the difference between TDS and TCS?
Answer
# 10
tds means tax deducute some amount from the employee to company
tcs means tax collected from buyer to seller
 
Is This Answer Correct ?    2 Yes 1 No
A.naveen
 

 
 
 
Other Taxation Interview Questions
 
  Question Asked @ Answers
 
Can the proforma/format of C Form (Sales Tax Form for interstate)be seen on any web site? What declaration is exactly made by the purchaser in that form?   1
Can any one clearly difine what is Works Contract with suitable exemple   2
AFTER GIVING INTEREST PROFIT OF RS. 20130 GIVING TO 2 OF WORKING PARTNERS OF THE BUSINESS FIRM   1
For the assessment year 2011-12, ie., FY 2010-11, is there cess on TDS for Professional fees ?   3
can anybody tell me what is the last date of Service tax payment (Quarterly/Monthly) in Company or other then company (individual/propritorship/partnership) & what is the last date of half year return.   6
why issue c form? what is procedure of issuing 'c' form? ABC 11
what is the last date of TDS retur filling   2
MY QUESTION IS 1. WHAT ARE THE LEDGERS TO BE OPEN FOR TDS 2. WHEN AND TO WHOM I DEDUCT TDS 3. JOURNAL ENTRY FOR ALL TDS TRANSCATION 5. IN TALLY ERP MENTION LEDGER TO BE CREATED UNDER WHAT GROUP 6. THEN ANY OTHER IMPORTANT INFORMATION ABOUT TO CHECK IN TDS   1
what is the meaning of TDS.AND it will be what percentage.who is supposed to pay TDS.   3
What is the maximum amount to issue Form C to a dealer for the purchase of 40 crores in several bills in a quater?   3
Can we sale materials to interstate unregister dealer   2
Our Company is engaged in Construction activities. We are going to purchase Exacavator Machine from the interstate. Whether the above purchase covered by issuing C form ? Whether can we apply for C Forms in sales tax Dept ? Please clarify sir   6
 
For more Taxation Interview Questions Click Here 
 
 
 
 
 


   
Copyright Policy  |  Terms of Service  |  Articles  |  Site Map  |  RSS Site Map  |  Contact Us
   
Copyright 2013  ALLInterview.com.  All Rights Reserved.

ALLInterview.com   ::  KalAajKal.com