Tax Collected at Source
(TCS)
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.
Tally.ERP 9 has full coverage of the statutory
and reporting requirements 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, TCS,
VAT, FBT, Service Tax, Excise for Dealers,
Excise for Manufacturers and others, Tally.ERP
9 comes with complete statutory taxation
coverage.
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