{"id":5317,"date":"2023-05-08T00:27:33","date_gmt":"2023-05-07T18:57:33","guid":{"rendered":"https:\/\/razorpay.com\/learn\/?p=5317"},"modified":"2025-01-30T07:47:27","modified_gmt":"2025-01-30T02:17:27","slug":"difference-between-tds-and-tcs","status":"publish","type":"post","link":"https:\/\/razorpay.com\/learn\/business-banking\/difference-between-tds-and-tcs\/","title":{"rendered":"Difference Between TDS and TCS &#8211; A Complete Guide"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">TDS and TCS are two of the most significant sources of income for the government. And, it\u2019s crucial for businesses to make such on-time tax payments to avoid penalties and stay compliant. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Read as we take a deep dive into the difference between <\/span><a href=\"https:\/\/razorpay.com\/blog\/online-tds-payment-due-dates-penalties\/\"><span style=\"font-weight: 400;\">TDS<\/span><\/a><span style=\"font-weight: 400;\"> and TCS and their importance for businesses.\u00a0<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69ee43c30d84e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69ee43c30d84e\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/difference-between-tds-and-tcs\/#What-is-TDS\" >What is TDS?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/difference-between-tds-and-tcs\/#What-is-TCS\" >What is TCS?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/difference-between-tds-and-tcs\/#Examples-of-TDS-and-TCS\" >Examples of TDS and TCS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/difference-between-tds-and-tcs\/#Difference-between-TDS-and-TCS\" >Difference between TDS and TCS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/difference-between-tds-and-tcs\/#Failure-to-Deposit-TDS-or-TCS-with-the-Government\" >Failure to Deposit TDS or TCS with the Government<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/difference-between-tds-and-tcs\/#TDS-and-TCS-under-GST\" >TDS and TCS under GST<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/difference-between-tds-and-tcs\/#Frequently-Asked-Questions\" >Frequently Asked Questions<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What-is-TDS\"><\/span><b>What is TDS?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">TDS stands for Tax Deducted (or withheld) at Source. As per Section 194Q, the income tax department mandates any company or individual to deduct tax at the source if the payment exceeds Rs. 50 lakhs for the purchase of goods and services, like rent, consulting, legal fees, royalty, technical services, etc.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">The <a href=\"https:\/\/razorpay.com\/blog\/tds-rate-chart\/\">TDS rates<\/a> are predecided by the government under the Income Tax Act. Click on the button below to find out the TDS rates on different types of goods and services for FY 2021-22.<\/span><br \/>\n<span style=\"font-weight: 400;\">In any TDS transaction, the company or individual deducting TDS from the payment is called a deductor, and the company or person receiving the said payment is called the deductee.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What-is-TCS\"><\/span><b>What is TCS?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Tax Collected at Source, or TCS is a tax imposed on goods by the seller, who collects it from the buyer at the time of sale. Section 206C of the Income Tax Act, 1961 specifies the goods and services on which TCS is applicable. The threshold for TCS on the sale of goods is Rs. 50 lakhs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although both taxes are levied at the point of origin of income\/payment, there are quite a few significant differences between TDS and TCS. Read on to get a clear understanding of the difference between TDS and TCS. <\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Examples-of-TDS-and-TCS\"><\/span>Examples of TDS and TCS<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div class=\"group w-full text-gray-800 dark:text-gray-100 border-b border-black\/10 dark:border-gray-900\/50 bg-gray-50 dark:bg-[#444654]\">\n<div class=\"flex p-4 gap-4 text-base md:gap-6 md:max-w-2xl lg:max-w-xl xl:max-w-3xl md:py-6 lg:px-0 m-auto\">\n<div class=\"relative flex flex-col w-[calc(100%-50px)] gap-1 md:gap-3 lg:w-[calc(100%-115px)]\">\n<div class=\"flex flex-grow flex-col gap-3\">\n<div class=\"min-h-[20px] flex flex-col items-start gap-4 whitespace-pre-wrap break-words\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p><strong>\u27a1\ufe0fLet&#8217;s consider an example of TDS in the context of salary payments:<\/strong><\/p>\n<p>Suppose you are an employee working for a company. Your monthly salary is Rs. 50,000. As per the income tax regulations, your employer is required to deduct TDS from your salary before making the payment to you.<\/p>\n<p>Let&#8217;s assume that the applicable TDS rate for your income slab is 10%. In this case, your employer will deduct 10% of your salary as TDS, which amounts to Rs. 5,000 (10% of Rs. 50,000). After deducting TDS, your employer will pay you the remaining amount of Rs. 45,000.<\/p>\n<p>The deducted TDS amount of Rs. 5,000 will be deposited by your employer to the government on your behalf. This TDS can then be claimed as a tax credit while filing your income tax return. The TDS amount is considered as tax already paid by you, which reduces your overall tax liability.<\/p>\n<p>So, in this example, TDS is the amount deducted from your salary by your employer and remitted to the government as income tax on your behalf.<\/p>\n<p><strong>\u27a1\ufe0fNow, Let&#8217;s consider an example of TCS in the context of the sale of goods:<\/strong><\/p>\n<p>Suppose you run a business that sells alcoholic beverages. As a seller, you are required to collect TCS on the sale of alcoholic liquor as per the applicable tax regulations.<\/p>\n<p>Let&#8217;s say you sell a case of alcoholic liquor to a customer for Rs. 10,000, and the TCS rate for alcoholic liquor is 5%. In this case, you will collect 5% of the sale value, which amounts to Rs. 500 (5% of Rs. 10,000) as TCS.<\/p>\n<p>After collecting the TCS amount of Rs. 500, you will remit it to the government as per the specified timeline and procedures.<\/p>\n<p>The customer who purchased the alcoholic liquor can adjust the TCS amount of Rs. 500 against their tax liability while filing their income tax return.<\/p>\n<p>In this example, TCS is the amount collected by you as the seller on the sale of alcoholic liquor, and it is subsequently remitted to the government. The TCS serves as tax already paid by the buyer, which can be adjusted against their tax liability.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Difference-between-TDS-and-TCS\"><\/span>Difference between TDS and TCS<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<tbody>\n<tr>\n<td>\n<p style=\"text-align: center;\"><b>TAX DEDUCTED AT SOURCE (TDS)<\/b><\/p>\n<\/td>\n<td>\n<p style=\"text-align: center;\"><b>TAX COLLECTED AT SOURCE (TCS)\u00a0<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">\n<p style=\"text-align: center;\"><b>Meaning<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">TDS is tax deducted at source by any company or individual making a payment if the payment exceeds the thresholds mentioned under respective sections.\u00a0 \u00a0 \u00a0\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">TCS is a tax collected by the seller, at the time of sale.<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">\n<p style=\"text-align: center;\"><b>Transactions Covered<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">TDS is applicable on interest, salaries, brokerage, professional fees, commission, purchase of goods, rent, etc.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">TCS is applicable on the sale of timber, scrap, minerals, liquor, tendu leaves, forest produce, cars, and toll tickets.\u00a0\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">\n<p style=\"text-align: center;\"><b>Limits<\/b><span style=\"font-weight: 400;\">\u00a0\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Under Section 194Q, TDS is applicable on the purchase of goods, if the amount exceeds Rs. 50 lakhs.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Under Section 206C (1H), TCS is applicable on the sale of goods, if the amount exceeds Rs. 50 lakhs.<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">\n<p style=\"text-align: center;\"><b>Rates\u00a0<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">The tax deduction rate (TDS) for the purchase of goods is 0.1% of the sum exceeding Rs. 50 lakhs.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The tax collection rate (TCS) for the sale of goods is 0.1% of the sale sum exceeding Rs. 50 lakhs.<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">\n<p style=\"text-align: center;\"><b>Time of Deduction\/Collection<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">TDS is deducted whenever a payment is due or made, whichever is earlier.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">TCS is collected by the seller at the time of sale.<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">\n<p style=\"text-align: center;\"><b>Person Responsible<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">TDS is to be deducted by the individual (or company) making the payment.\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">TCS is to be collected by the individual (or company) selling the specified goods.<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">\n<p style=\"text-align: center;\"><b>Due Dates<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">The due date for <\/span><a href=\"https:\/\/razorpay.com\/x\/tds-online-payment\/\"><span style=\"font-weight: 400;\">depositing TDS<\/span><\/a><span style=\"font-weight: 400;\"> is the 7th of every month while TDS returns have to be submitted quarterly.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">TCS will be deducted during the month in which the supply is made. It will be deposited within 10 days from the end of the month of supply to the credit of the government.<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">\n<p style=\"text-align: center;\"><b>Filing of Quarterly Statements<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">There are three different returns to be filed for TDS &#8211; Form 24Q (on salaries), Form 26Q (other than salaries), and Form 27Q (payments made to NRIs).<\/span><\/td>\n<td><span style=\"font-weight: 400;\">There is one quarterly return in Form 27EQ for collection of tax at source (TCS).<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\">\n<p style=\"text-align: center;\"><b>Unavailability of PAN<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">As per sec 206 AA, those who fail to provide a <a href=\"https:\/\/www.onlineservices.nsdl.com\/paam\/endUserRegisterContact.html\" target=\"_blank\" rel=\"noopener\">Permanent Account Number (PAN)\u00a0<\/a> to the person making the payment will be charged TDS at the following rate, whichever is higher:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 \u00a0 \u00a0 \u00a0rate specified in the corresponding provision of the Act;<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211;\u00a0 \u00a0 \u00a0 \u00a0 \u00a0rate of 20%.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Section 206CC requires anyone paying an amount liable to TCS to provide their (PAN) to the person responsible for collecting the tax (hereafter, referred to as the collector); otherwise, the tax will be collected at the following rate, whichever is higher:<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">-twice the rate specified in the corresponding provision of this Act;<\/span><span style=\"font-weight: 400;\">\u00b7 <\/span><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">-rate of 5%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<h2 class=\"min-h-[20px] flex flex-col items-start gap-4 whitespace-pre-wrap break-words\"><span class=\"ez-toc-section\" id=\"Failure-to-Deposit-TDS-or-TCS-with-the-Government\"><\/span>Failure to Deposit TDS or TCS with the Government<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The deductor\/collector can be penalized if they fail to pay TDS on time and file their TDS\/TCS return correctly under Section 271H. The deductor\/collector can be fined a minimum of Rs. 10,000 and a maximum of Rs. 1,00,000 for filing an incorrect TDS\/TCS return. Also, Section 201(1A) of the Income Tax Act mandates an interest of @1.5% per month applicable for non-deduction of TDS from the date on which tax was deductible to the date on which tax is deducted.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In case of late TDS payments, the same interest of 1.5% will apply from the date of deduction to the payment date.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Ensure to make on-time TDS payments, always with RazorpayX Instant TDS Payment Tool.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/x.razorpay.com\/auth\/signup\/?intent=current_account?r=blog_cta_business_banking_difference_between_tds_and_tcs&amp;utm_source=blog&amp;utm_medium=cta\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Pay TDS in 30 seconds<\/a><\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<div class=\"group w-full text-gray-800 dark:text-gray-100 border-b border-black\/10 dark:border-gray-900\/50 dark:bg-gray-800\">\n<div class=\"flex p-4 gap-4 text-base md:gap-6 md:max-w-2xl lg:max-w-xl xl:max-w-3xl md:py-6 lg:px-0 m-auto\">\n<div class=\"relative flex flex-col w-[calc(100%-50px)] gap-1 md:gap-3 lg:w-[calc(100%-115px)]\">\n<div class=\"flex flex-grow flex-col gap-3\">\n<h2 class=\"min-h-[20px] flex flex-col items-start gap-4 whitespace-pre-wrap break-words\"><span class=\"ez-toc-section\" id=\"TDS-and-TCS-under-GST\"><\/span>TDS and TCS under GST<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group w-full text-gray-800 dark:text-gray-100 border-b border-black\/10 dark:border-gray-900\/50 bg-gray-50 dark:bg-[#444654]\">\n<div class=\"flex p-4 gap-4 text-base md:gap-6 md:max-w-2xl lg:max-w-xl xl:max-w-3xl md:py-6 lg:px-0 m-auto\">\n<div class=\"flex-shrink-0 flex flex-col relative items-end\">\n<div class=\"text-xs flex items-center justify-center gap-1 invisible absolute left-0 top-2 -ml-4 -translate-x-full group-hover:visible !invisible\"><span style=\"font-size: 19px;\">Under the Goods and Services Tax (GST) regime in India, TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) are applicable in certain scenarios. Here&#8217;s an overview of <a href=\"https:\/\/razorpay.com\/learn\/business-banking\/difference-between-tds-and-tcs\/\">TDS and TCS under GST<\/a>:<\/span><\/div>\n<\/div>\n<div class=\"relative flex flex-col w-[calc(100%-50px)] gap-1 md:gap-3 lg:w-[calc(100%-115px)]\">\n<div class=\"flex flex-grow flex-col gap-3\">\n<div class=\"min-h-[20px] flex flex-col items-start gap-4 whitespace-pre-wrap break-words\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<ol>\n<li><strong>TDS (Tax Deducted at Source) under GST<\/strong>: TDS under GST is applicable to specified government departments, local authorities, and certain categories of taxpayers. They are required to deduct a certain percentage of the invoice value while making payments to suppliers who are registered under GST.<\/li>\n<\/ol>\n<p><strong>Key points about TDS under GST:<\/strong><\/p>\n<ul>\n<li>The TDS rate is generally 2% (1% each for Central GST and State\/Union Territory GST).<\/li>\n<li>TDS is deducted at the time of making payment or crediting the supplier&#8217;s account, whichever occurs earlier.<\/li>\n<li>The deductor needs to file a TDS return, providing details of the deducted tax and the supplier.<\/li>\n<li>The deducted TDS amount is credited to the electronic cash ledger of the supplier, and the supplier can utilize it for offsetting their GST liability.<\/li>\n<\/ul>\n<ol start=\"2\">\n<li><strong>TCS (Tax Collected at Source) under GST<\/strong>: TCS under GST is applicable to e-commerce operators who facilitate the supply of goods or services through their platforms. They are required to collect a specified percentage of the transaction value as tax at the time of collection\/payment from the buyers.<\/li>\n<\/ol>\n<p><strong>Key points about TCS under GST:<\/strong><\/p>\n<ul>\n<li>The TCS rate varies based on the nature of the supplies (e.g., 1% for intrastate supplies of goods, 0.5% for interstate supplies of goods).<\/li>\n<li>TCS is collected by the e-commerce operator at the time of receiving payment from the buyer.<\/li>\n<li>The e-commerce operator needs to file a TCS return, providing details of the collected tax and the buyer.<\/li>\n<li>The collected TCS amount is credited to the electronic cash ledger of the buyer, and the buyer can utilize it for paying their GST liability.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><span style=\"font-weight: 400;\"> We hope this helped you understand the difference between TDS vs TCS. Subscribe to our weekly newsletter to stay updated about all the recent tax changes &amp; their effect on your business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">From figuring out taxes to choosing the right business banking, the journey is never a cakewalk!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But, new-age business banking in the same way has helped shape the financial operations of businesses today significantly.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">One-stop banking solutions platforms like <a href=\"https:\/\/razorpay.com\/x\/current-accounts\/\">RazorpayX<\/a> allows business owners to open <a href=\"https:\/\/razorpay.com\/x\/current-accounts\/?utm_source=direct&amp;utm_medium=website\">current accounts<\/a>, <a href=\"https:\/\/razorpay.com\/x\/tax-payments\/\">pay taxes<\/a>, schedule payments, <a href=\"https:\/\/razorpay.com\/x\/vendor-payments\/\">pay vendors<\/a> seamlessly and check invoices from a single dashboard. This saves valuable time and effort.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is an accounting and banking platform that fills the gap between advanced banking solutions and finance professionals. It allows easy accounting software integration.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">With <a href=\"https:\/\/razorpay.com\/payroll\/\">RazorpayX Payroll<\/a>, businesses can automate salary payments and provide insurance policies to their employees.<\/span><\/li>\n<\/ul>\n<div style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/x\/current-accounts\/?r=blog_cta_business_banking_difference_between_tds_and_tcs&amp;utm_source=blog&amp;utm_medium=cta\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Join RazorpayX!<\/a><\/div>\n<p>&nbsp;<\/p>\n<p><strong>Read more<\/strong><\/p>\n<p><a href=\"https:\/\/razorpay.com\/learn\/business-banking\/vendor-payments\/\"><span style=\"font-weight: 400;\">Vendor Payments<\/span><\/a><\/p>\n<p><a href=\"https:\/\/razorpay.com\/learn\/business-banking\/guide-to-procure-to-pay\/\"><span style=\"font-weight: 400;\">What is Procure to Pay<\/span><\/a><\/p>\n<p><a href=\"https:\/\/razorpay.com\/blog\/business-banking\/what-is-accounts-payable\/\"><span style=\"font-weight: 400;\">Accounts Payable<\/span><\/a><\/p>\n<p><a href=\"https:\/\/razorpay.com\/learn\/business-banking\/what-is-procurement\/\"><span style=\"font-weight: 400;\">What is Procurement<\/span><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Frequently-Asked-Questions\"><\/span>Frequently Asked Questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\t<div id=\"rank-math-rich-snippet-wrapper\" class=\"\">\n\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\n","protected":false},"excerpt":{"rendered":"<p>TDS and TCS are two of the most significant sources of income for the government. Read as we take a deep dive into the difference between TDS and TCS and their importance for businesses.\u00a0<\/p>\n","protected":false},"author":151156539,"featured_media":5326,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3437],"tags":[],"class_list":{"0":"post-5317","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banking"},"_links":{"self":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/5317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/users\/151156539"}],"replies":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/comments?post=5317"}],"version-history":[{"count":19,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/5317\/revisions"}],"predecessor-version":[{"id":15622,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/5317\/revisions\/15622"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media\/5326"}],"wp:attachment":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media?parent=5317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/categories?post=5317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/tags?post=5317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}