To avoid loss of taxes , Indian government has implemented the provision of Tax Collection at Source (TCS) where the taxes are collected and deposited to Indian government at the time of Sale itself at per determined rate as declared by government.. .
Tax Collection at source is payable in India on Prescribed Goods and services(Under Section-206C) . If prescribed Goods are Utilize for trading Purpose TCS is Payable by Seller and it is collected (Seller) at the Point of Sale.
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|Asked: 12/15/18, 4:24 AM|
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|Last updated: 2/2/19, 1:20 AM|