What is the difference between TDS and TCS?
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Answer / naina jain
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 ? | 469 Yes | 147 No |
Answer / om. maliya
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 ? | 212 Yes | 81 No |
Answer / ravi
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 ? | 164 Yes | 47 No |
Answer / rajesh kumar soni
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 ? | 122 Yes | 29 No |
Answer / manoj kumar
difference between TDS and TCS
TDS- OUT OF MONEY
TCS-COME IN MONEY
| Is This Answer Correct ? | 112 Yes | 63 No |
Answer / anish tigga
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 ? | 71 Yes | 30 No |
Answer / raj
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 ? | 78 Yes | 42 No |
Answer / suman
TDS MEANS TAX DEDUCTION AT SOURCE AND TCS MEANS TAX COLLECTED AT SOURCE
| Is This Answer Correct ? | 30 Yes | 7 No |
Answer / a.naveen
tds means tax deducute some amount from the employee to company
tcs means tax collected from buyer to seller
| Is This Answer Correct ? | 26 Yes | 7 No |
Answer / rahul saini
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 ? | 22 Yes | 9 No |
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