What is the difference between TDS and TCS?
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Answer Posted / micky
TDS- tax deducted at source. tds paid by emoloyer in the salary of employee.e.g if employee salary is 250000 then employer deduct 10% tds on salary and remaining amount paid to the employee.
TCS- tax collected a source. tcs is collected by seller from the buyer at the time of sale of specified goods. e.g tenduleaves,scrap,parking lot etc.
tds and tcs paid to the govt.
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