Tax deducted at source (TDS) and tax collected at source (TCS) are the two advance tax payments that an assessee pays as a direct tax. As per the Income Tax Act, all individuals or firms need to get a certain amount deducted at the source itself or pay a certain amount which is later collected from the buyers. While TDS is the expense amount that is deduced from an individual as tax, TCS is the income amount that the seller receives as tax. TDS is the advance tax that one pays while making a payment and deducting it from the same. TCS, on the other hand, is the tax that a seller has to pay at the source but it is collected from the buyers as an addition in the selling price.
Our Services includes: –
- Filing for TDS and TCS and maintaining its account book.
- Planning and ensuring TCS and TDS compliances.
- Computation of monthly TDS and TCS.
- Monthly tax reconciliation of the TDS and TCS due and deducted or collected.
- Filing of quarterly E-TDS and TCS Returns.
For availing any of the services as listed above, click here.