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What is TCS? On Which it is Computed.
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Answer / r.ramesh
TAX COLLECTION @ SOURCE
Sl.No. Nature of Goods Rates
1.Alcoholic liquor for human Consumption 1%
2.Tendu leaves 5%
3.Timber obtained under forest lease 2.50%
4.Timber obtained by any mode other than a forest lease
2.50%
5.Any other forest produce not being timber or tendu leaves
2.50%
6.Scrap 1%
7.Parking lot 2%
8.Toll plaza 2%
9.Mining & Quarrying 2%
Annual Return for TCS to be filed in form No.27E
Half yearly return for the period ending 30th september &
31st March to be filed within 1 month
| Is This Answer Correct ? | 23 Yes | 2 No |
Answer / naveen
tcs is Tax collection at Source it will come While doing
Scrap sales and its % @1.03%
| Is This Answer Correct ? | 33 Yes | 21 No |
Answer / darshan katara
TCS- Tax collection at Source and it is calculated on
scarpe sale @1.03%
| Is This Answer Correct ? | 18 Yes | 9 No |
Answer / vijay karan yadav
TCS Collected @ 1.03% on the amount debited to the buyer.
that means it must include excise and Vat also.
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / ashish soni
Basic Amount - 1470 RS.
+ LANDING 1%
+ CUSTOMDUTY 28.85%
+ VAT 4%
+ ADD.VAT 1%
+ TCS 1%
SO,PLEASE REPLY ME TCS CALCULATION AS SOON AS POSSIBLE.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / bhim singh rana
tax collection at source.
It is calculaed on scarpe sale @ 1.33%
| Is This Answer Correct ? | 8 Yes | 30 No |
what is tds concept
The party has raised service bill for Rs. 120000. The TDS deductor company made TDS on Rs. 100000 i.e., Rs.20000 is deducted on the gross bill of Rs 120000. My question is whether to deduct TDS on Rs.120000 or on Rs. 100000?
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3 Answers Chartered Accountant,
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Audit 
