What is the difference between TDS and TCS?

Answer Posted / mr.naresh

TDS Means A Person Working In The Some Company He was Gain
Some Amount(Salary), So in This Salary Deducted into Paid to
Govt it is Called TDS.

TCS Called as In the Market A person Buy the Product Who are
Sell the Particular Product Paid on Some amount Called as TCS.

Is This Answer Correct ?    5 Yes 3 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What items come under deferred tax liability?

663


Please tell me the process of generation of TDS in Tally ERP-9 with an Example

2517


Define financial year?

721


if company is registered in West Bangal and goods are purchased from Maharashtra for export, and export will be done from Maharastra, then who can issue the H form?

1434


Dear All, We are a trader and doing one E-1 sales. Supplier send the material by To-pay basis, we endorse the LR and sold to Customer. Customer has given the purchase order for Basic amount and freight amount also. That means we have to pay the freight and getting the reimbursement from customer. In E-1 sales Invoice can we show the freight amount separtely as freight ? Since the customer need the freight head should be shown separetly. Or can we raise the separate debit note for this. Is it create any tax implifications in E-1? Please claify the same at the earliest. regards Regards Thananjeyan.P

2095






If we got a printing jon we are adverstising firm for that we purchase paper from local dealer which contain vat 4% now when i bill to the person from whom i got a priniting job what should i consider this as service or sale and what tax i charge, i don't have vat no. but i have service tax no.?

1434


Please guide in Taxation. I want to know the CHALLAN NO, FREQUENCY OF TAX DEPOSIT,FILING FORM NO, FREQUENCY OF FILING OF ALL TYPES OF TAX(DIRECT & INDIRECT)

2032


HOW TO FILE RETURN- SALARIED PERSON GETTING SALARY 6 MONTH FROM ONE & 6 MONTH ANOTHER COMPANY

1798


THERE IS EXCESS TDS REMITTED UNDER SECTION 194 H IN EACH MONTH STARTING FROM APRIL 2011 TO DECEMBER 2011.THIS IS DISCOVERED IN JANUARY 2012. THE QUARTERLY RETURN IS YET TO BE FILED. HOW TO TAKE EXCESS CREDIT IN FILING QUARTERLY RETURNS ? WHETHER EXCESS TDS CAN BE ADJUSTED AGAINST REMITTANCE OF TDS FOR JANUARY 2012 (UNDER 194 H ONLY)AND THE BALANCE ONLY CAN BE REMITTED? IF SO, HOW TO GIVE THE CHALLAN REFERENCES IN THE RETURN?

1787


what is excise duty and how can we mantain its account in outgoing and incoming of bill status.

1543


What is means by Central Excise ? How to calculate Central Excise ? Central Excise form No. is ?

1786


I want to know about the site where i can do online application for F form. Please suggest site address and procedure.

1544


explain the special provisions for computing profit and gains of retail business

1673


Our business is an international call center. we are selling antivirus which is buying rs 200 & selling Rs 4500.what will be the purchase & sales.& what will be taxation processor to calculate tax

1731


what is the full rate of cst/vat of building material ?

1999