what is majore differance between TCS & TDS
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Answer / manoj devda
TDS is related to income tax dedcuted from the payment made
at source.where as TCS is related to the tax collection
from the sale of particular products.
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My dear friends both TDS and TCS are same It is tax
collected on behalf of the Govt from the assessee.
Tcs.It is the Advance collection of Tax at the time sale of
certain notified products Those are Forest produce
TDS it is the advance tax collection from the assessee at
the time of payment made on some specified payments
Ex.Deduction of advance tax while making payment to contractor
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Answer / mittaldn@allinterview.com
tcs charge in the invoice and tds deducted from contractor
| Is This Answer Correct ? | 2 Yes | 4 No |
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