What is the difference between TDS & TCS?

Question

Accepted Answer

TDS stands for Tax Deducted at Source and TCS stands for Tax Collected at Source.

TDS is deducted by the payer while making certain payments, such as salary, rent, or commission, and is deposited with the government.
TCS is collected by the seller while making sales of specified goods, such as scrap, minerals, or motor vehicles, and is deposited with the government.
TDS is applicable to various sections of the Income Tax Act, while TCS is applicable to specific goods and services.
TDS rates vary depending on the nature of payment, while TCS rates are fixed for different goods and services.
TDS is deducted from the income of the recipient, while TCS is collected from the buyer of the goods or services.

Accepted Answer

TDS means Tax deduct at the source and TCS means tax collected at the source ,  simple words.
TDS deduct Kiya jata h or TCS collect kiya jata h.

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