TCS is the collection of tax at source by the seller (collector) from the buyer (collectee/payee) under section 206C of the Indian Income Tax Act, 1961.
Combined with TDS, CST, VAT, FBT, Service Tax, Excise for Dealers, Excise for Manufacturers and others, Tally.ERP 9 comes with complete statutory taxation and reporting coverage for TCS:
• Recording transactions related to TCS
• Statutory returns such as Form 27D and 27B
• For E-filing e-TCS Forms (Form 27E, Form 27EQ)
• TCS Challans with Tax Payer Counterfoil
• Reconcile Challans with the TCS payment ledger
Combined with TDS, CST, VAT, FBT, Service Tax, Excise for Dealers, Excise for Manufacturers and others, Tally.ERP 9 comes with complete statutory taxation coverage. |
