What is the difference between TDS and TCS?
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Answer Posted / pramod
TDS means (TAX deducted at source) the amount of tax paid on payment which is deducted from other's while making payment (when the payment exceeds the limit
).
Where as TCS means (Tax collected at source)amount of tax collected on suplly of goods which is collected from othre's while supplying goods.
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The CST assessement for the FY 2006-07 is completed on 31-3- 2010 and the same is received by dealer on 22-4-10. The question is that the dealer colud not produced the original H Forms at the time time asst. except the photostat copies filed. But the CTO not allowed and calculate tax at net 4% on H Forms turnover. CTO is saying that it is time barred by 31-3-10. Therefore even after produced we can not revise. We filed with case laws that it can be revised But when it is time barred it canot be. Therefore I request You to help the dealer ANYCASE LAW is there in the above case Pl. guide us.
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