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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 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 (2783)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4354)
Question
WHAT IS DIFFERENCE BETWEEN TDS AND TCS?
 Question Submitted By :: Ramesh.a
I also faced this Question!!     Rank Answer Posted By  
 
  Re: WHAT IS DIFFERENCE BETWEEN TDS AND TCS?
Answer
# 1
TDS stands for tax deducted at source 
Is This Answer Correct ?    52 Yes 8 No
Sijeesh
 
  Re: WHAT IS DIFFERENCE BETWEEN TDS AND TCS?
Answer
# 2
TDS is Tax deducted at source and TCS means Tax collected
at source-, TDS deducted while making payment to
creditors.
 
Is This Answer Correct ?    48 Yes 5 No
Janhavi
 
 
 
  Re: WHAT IS DIFFERENCE BETWEEN TDS AND TCS?
Answer
# 3
TDS stands for tax deducted at source 
Is This Answer Correct ?    23 Yes 13 No
Nilesh
 
  Re: WHAT IS DIFFERENCE BETWEEN TDS AND TCS?
Answer
# 4
TDS is Tax deducted at source and TCS means Tax collected
at source-, TDS is Collected at a time pament by Creditor
but TCS is Collected at a time of Received For Debtor
 
Is This Answer Correct ?    32 Yes 6 No
Ranjeet
 
  Re: WHAT IS DIFFERENCE BETWEEN TDS AND TCS?
Answer
# 5
TDS stand 4 tax deducted at source n TCS stands 4 tax
collected at source 1. tax deducted at the time of payment
to the creditors and vice versa
 
Is This Answer Correct ?    21 Yes 5 No
Butt
 
  Re: WHAT IS DIFFERENCE BETWEEN TDS AND TCS?
Answer
# 6
TDS MEANS TAX DEDUCTED AT SOURCE TCS TAX COLLECTED AT SOURCE 
Is This Answer Correct ?    13 Yes 7 No
Sijeesh
 
  Re: WHAT IS DIFFERENCE BETWEEN TDS AND TCS?
Answer
# 7
TDS-Tax will be deducted from the source of payment
TCS-Tax will be collected While collecting issuing price
 
Is This Answer Correct ?    11 Yes 5 No
Satyaki_raju@yahoo.com
[Taxtime]
 
  Re: WHAT IS DIFFERENCE BETWEEN TDS AND TCS?
Answer
# 8
tds- tax deduction at sources, it will be deucted at the
time of payment ot the contractor-vice versa

tcs- tax colletionm at sources, it wii be received at the
time of received of payment from debtors
 
Is This Answer Correct ?    14 Yes 5 No
Satish Kumar Jha
 
  Re: WHAT IS DIFFERENCE BETWEEN TDS AND TCS?
Answer
# 9
Hi,

TDS is actually a deduction while TCS is a collection of
tax at source, meaning thereby, if X makes payment of Rs.
100 to Y and such payment is covered under the provisions
of tds, then X will have to deduct tds say Rs. 10 and then
will make payment of Rs. 90 to Y.
While, if X sells goods worth Rs. 100 to Y and such goods
are covered under the provisions of tcs, then X will
collect Rs. 10 more from Y and hence the sale will be for
Rs. 110.
In both the cases Rs. 10 will be deposited to govt. account.
Hope it will clarify the provision a little clear.
 
Is This Answer Correct ?    48 Yes 2 No
Vikas Jaiswal
 
  Re: WHAT IS DIFFERENCE BETWEEN TDS AND TCS?
Answer
# 10
tds means tax deducted at source and tcs means tax collected
at source
 
Is This Answer Correct ?    4 Yes 7 No
Shannu
 

 
 
 
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