What is the difference between TDS and TCS?
- 24 Answers
- 118580 Views
- Godrej, SSK, TCS, I also Faced
- E-Mail Answers
Answer Posted / neeraj airan
TDS -a method of collecting tax on the behalf of individual or other by the person who give this income.Either this income can be in the form of Rent ,Salary or Interest.
TCS- a technique in which tax gets collected by the seller of some specific goods like liquor, forest goods etc .
The main difference is that TDS covered the income so that tax on them can directly go to the deptt. in the previous year but aim of TCS is that the income on which tax cannot be deducted by TDS or paid by advance tax can get paid by the customers of liquor and others.
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
WHEN FORM VAT R-2 USE?
I have working with Rs.180000/- I want fill up itr 1st time What is process.
How to calculate rental exemption if HRA is not given seperately and what will be the maximum allowability and under which Section of Income tax
procedure of service tax
What are the deductions under salary head? Name the items.
How much is the VAT in UAE
What qualification require for become a tax consultant ? what the future in this..???
my manufacture company established in Excise exempted Area. and we pay freight to transpoter.& also deduct service tax.what will be the entry of this transaction. can i adjust this service tax payable from input service tax of telephone bill.
how to finalaze the balence process using tally
A Old Government Job retired Personnel who is getting his Pension amount@Rs.11000/- per month. He has put his retirement Fund in Bank Deposit for 1 year. No Bank is deducted TDS on that amount. Do we have any way by which his TDS can be refunded or saved
if salary paid per month Rs 80000/ I will deduct TDS from his salary, please what I do explain.(send Urgently)
sub hadding no. scrap & Wastage in corrugated box
I want to know how to calculate VAT / WCT Liability under composition scheme and regular scheme at Karnataka
Rules for filling Income Tax return for an Individual ?
My client has not filled income tax return for ay-2013-14
