Rajesh pandit says Replied on 10th August,2022 02:02 AM

And pay to Mr.B rs. 9000 and the Tds deducted should be paid to govt

Rajesh pandit says Replied on 10th August,2022 02:01 AM

suppose Mr.A took professional services from Mr. B amounting to Rs. 10000. Mr A will deduct TDS while making payment to Mr.B U/s 194J i.e. 10% on 10000.

Rajesh pandit says Replied on 10th August,2022 01:58 AM

TDS is deducted by purchaser & TCS is charged by seller to buyer

rahul says Replied on 26th July,2022 12:58 PM

TDS and TCS are both levied under Indian Income Tax Laws. TDS stands for Tax Deducted at Source, and it serves the same purpose as the name implies: income tax laws require that when certain payments are made for specific transactions, the payer deduct some amount and deposit it to the government at a specified percentage. TCS - Tax Collected at Source - serves the same purpose as the name implies, in that tax is collected and deposited by the person receiving the payment. This is the primary distinction between TCS and TCS. I hope this helps...!!!