What is the difference between TDS and TCS?
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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.
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