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Answer Posted / manish.panchal
TDS is Tax Deducted at Source. This is the Tax Deducted and
paid to govertment by your client/customer.
TCS is Tax collected at Source. This is to be paid by
yourself only as this i self means TAX COLLECTED AT SOURCE.
you need to pay in challan No. 281 with respective rate of
TDS or else you have to pay on your net profit or while
calculationg advance tax.
Both of above should be determine while finalizing accounts.
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