Tax Collected at Source (TCS)
TCS is the collection of tax at source by the seller (collector) from the buyer (collectee/payee) under sections of the Indian Income Tax Act, 1961.
Acceasy 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