Union Finance Minister Nirmala Sitharaman on Saturday presented the Union Budget 2025-26
Image: ANI
She outlined a roadmap for India's continued economic expansion, emphasising agriculture, micro, small, and medium enterprises (MSMEs), investment, and exports
Image: Unsplash
Here, let's understand the difference between TDS and TCS
Image: Unsplash
Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) are fundamental components of Indian taxation
Image: Unsplash
Tax deducted at source (TDS) is a procedure through which the government collects tax directly at the source of income
Image: Unsplash
While Tax Collected at Source (TCS) is the tax sellers collect from buyers during the sale
Image: Unsplash
TDS covers payments such as rent, commissioners and salaries
Image: Unsplash
Whereas TCS covers the sale of goods like metals, automobiles and minerals