What is TCS in Income Tax

Last updated at April 16, 2024 by

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What is TCS Full Form is Tax Collected at Source It is a Tax Collected on Certain Incomes Example Sales Made by A to B of 100000 Suppose TCS Rate is 1% B will Pay him 100000+1000 TCS Extra A will deposit 1000 with the Government Sale 1,00,000 Cheque 101000 A B 1000 TCS Deposit to Government teachoo.com Sale 1,00,000 Cheque 100000 A B If No TCS If TCS@ 1%

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.