what is the meaning of tax collection at source?

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what is the meaning of tax collection at source?..

Answer / soundar

TCS means Tax Collected at source .i.e. While raising
Invoice for Sale of Scraps, Waste etc we have to collect
Tax thro' Invoice and we have to remit the Central Govt. as
like TDS

P.s. Mr Ramesh TDS is entirely diffrent from TCS
TDS to be collected at the time of Payment / Accounting
TCS is to be collected from the sale Invoice on Scraps,
Waste etc

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61 Yes

8 No

what is the meaning of tax collection at source?..

Answer / bhupinder singh

Tax Collection at Source means, we have to deduct tax on
sale of scrap or waste material of the concern and
deposited/credited to the Central Govt. before 7th of each
month or quarter according to the case

Is This Answer Correct ?

19 Yes

8 No

what is the meaning of tax collection at source?..

Answer / arnab

sounder is correct
arnab

Is This Answer Correct ?

6 Yes

6 No

what is the meaning of tax collection at source?..

Answer / ramesh

TDS IS DEDUCTED ON VARIOUS HEADS PAYMENT LIKE INTEREST ,
CONTRACT, RENT, PROFESSIONAL FEES,CONSULTANCY
FEES,COMMISSION & BROKERAGE,ETC., ON MAKING OF PAYMENTS TDS
TO BE DEDUCTED AND REMITTED TO THE CREDIT OF CENTRAL GOVT.

Is This Answer Correct ?

32 Yes

46 No

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