What is the difference between TDS and TCS?

Answer Posted / ruby

TDS means tax deduction at source, which is deduct from the income of individual, companies, Hindu undivided family etc under the TDS rate chart.

TCS means tax collection at source, which somehow simmilar like tds.

Is This Answer Correct ?    0 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

In an E1 trasaction, if the dealer fails to get the E1form from his supplier& submit it to the Sales Tax Authority, then how much will be the expected penalty from Sales Tax department, if the local tax of those item is 14.5%? Please Note: Dealer has submitted all other documents to sales tax including customer Cform expect E1 form. Kindly give us the valuable answer with the supporting CST circular number.

1186


as we are having are unit in a area where excise duty is not applicable and on my purchase i am paying excise duty can i take refund of the duty paid by me and what was is procedure? plz. replay to my on my id ngaggarwal@yahoo.com

1546


Please some one tell me what is the VAT or WCT rate for works contract at Tripura

2065


How is income tax calculated?

651


Company A from Maharashtra dispatch material directly to company C in Maharashtra & Billed to Company B in Karnataka. Co. A raised billed to Co. B charged local VAT., Co. B raised bill on Co. C tax rate NIL. Can Co. C claimed on VAT amount ?

1384






what is the Difference between Compound Sales and Deemed Sales?

1684


AS PER VAT AUDIT WE HAVE REFUND OF RS.25000/- ON PURCHASE OF FIXED ASSETS WHICH WE DID NOT CLAIM LAST YEAR, NOW WHAT ENTRY SHOULD WE PASS IN BOOK. ITS URGENT

1752


why VAT not charged in deemed sales bill.

1752


From Karnataka,while sending material out, which are all the states required Form 38?

1651


what is deemed sales? how to calculated

1770


procedure of service tax

1699


I wanted to know about the taxes in haryana on Software Licenses ( Paper licenses). what is the % of service tax and VAT. and the both the taxes is charged on Base Amount or service tax is charged first and then VAT is calulated on the amount with Service TAX?

1739


what are the slab rate for F Y 2010-11

1638


we have some central purchase bill against c form i want c form against this bill what requirment for form because we have not recived any c form from the cst office please advice me what i do . thanks

2351


WHAT IS THE PENALTY CHARGE BY THE SALES TAX DEPARTMENT IF WE ARE ENABLE TO FILE SALES TAX RETURN AFTER ONE MONTH FROM END OF THE IVQ-2012-13.

1508