The two advance tax payments that an assessee makes as a direct tax are tax deducted at source (TDS) and tax collected at source (TCS). According to the Income Tax Act, all individuals and businesses must either have a certain amount deducted at the point of sale or pay a certain amount that will be collected later from the buyers. TCS is the income amount that the seller receives as tax, whereas TDS is the expense amount that is deducted from an individual as tax. TDS refers to the advance tax paid when making a payment and deducted from it. TCS, on the other hand, is a tax that a seller is required to pay at the point of sale, but which is collected from the buyers as part of the sale price.
TAN details
PAN details
Last TDS filing details, if applicable
The period for which TDS has to be filed
Date of incorporation of the business
No. of transactions for filing TDS returns
Name of the entity - Proprietorship/ Partnership/ Company/ LLP
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