Tax deduction at Source (TDS)
Persons responsible for making payment of Income covered by the scheme of tax deduction is are required to deduct tax at source at the prescribed rates. Tax so deducted should be deposited within the prescribed time. Returns on TDS should be submitted within the specified time.

The income tax is deducted at source on
  • Salaries
  • Interest on Securities
  • Rent payments
  • Payments to Contractors and sub contractors
  • Payment of Commission or brokerage
  • Payment of fees for Professional/Technical Services
  • Payment of any income to Non Resident

Tax Collection at Source (TCS)
Tax Collection at Source arises on the part of the seller. The following goods when sold must be subjected to TCS and the taxes collected thereon must be remitted into department's accounts as done in the case of TDS
  • Alcoholic liquor for human consumption and Tendu leaves
  • Timber obtained under a Forest Lease
  • Timber obtained by any mode other than under a Forest Lease
  • Any other Forest produce not being Timber or Tendu Leaves
  • Scrap (waste and scrap from the manufacture or mechanical working of materials which is definitely not usable as such because of breakage, cutting up, wear and other reasons)

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