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What is the difference between TDS and TCS?
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Answer Posted / ankur sharma
TDS stands for Tax deducted at source which means tax
deducted by the company or other person on which he is
liable to deduct the amount:for example banks is liable to
deduct on amount if given amount is exceed Rs 10000 TCS
stands for Tax collection at source which means tax is
collected by the company on collection of specific amount
thus this is income for the company and deposit this amount
on due date ort before the due date.
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