TCS Full Form in Income Tax Department:
TCS Full Form in income tax department is Tax Collection at Source. In India, there are goods that are excluded from the GST, and when these goods are brought and sold then the seller has the right to collect some tax from the buyer (according to Income Tax ACT 206C, the seller has the right to collect tax from the buyer).
TCS – Tax Collection at Sources:
|Good tax applied||Tax percentage|
|Liquor for human consumption||1%|
|Minerals like iron ore and coal||1%|
|Parking lot and Toll Plaza||1%|
|Timber wood under a forest lease||2.5%|
What is the difference between TCS and TDS?
TCS is Tax Collected at Source and TDS is Tax Deducted at the source.
TCS is a tax applied on the goods and services Like liquor, timber, mineral, and more. But TDS applied sources like salary, rent, professional fee, brokerage, commission, etc.
TDS applies to the person or company which deducted the payment when the company transfers the money to the individual like salary when salary is more than a certain limit. This TDS only applies to the payment when exceeds a certain limit.
TCS applies to the buyer when brought goods from the seller, the goods which have TCS tax.
TCS FULL FORM in TATA:
TCS Full form in tata is TATA CONSULTANCY SERVICE. It is one of the largest IT companies in India. It is also known as TATA consultancy service limited. India’s largest multinational information technology company.
It is also one of the largest IT companies in the world. Founded in the year 1968 as a consultancy service provider. The head office of the TCS is in Mumbai and there is a total of 149 offices in 46 countries in the world. It comes under the most valuable company in the world.
Brief information of TCS Full Form:
According to the year, 2015 ranking of Forbes TCS got 64th position in the world. The main objective of the TCS is software development and consultancy to many companies. Generally, TCS’s largest revenue coming from application development and maintenance.
In the year 2004, TCS becomes the public limited company and today TCS generates more than a hundred billion. More than 4.5 lakhs employees are working and 36 percent are women and every year provide thousand of jobs to the youth.
How to get a job in TCS?
Students who are from a computer and IT background, have a good chance to get a job in TCS. The average salary of the employee is 3 lakh per year and after the experience, it will increase.
Clients of TATA CONSULTANCY SERVICE:
- General Electric
- Morgen Stanley
- Land Rover
- CITY BANK
These are the clients of the TCS but clients are big companies in the world.
MORE Full Form:
|IDBI FULL FORM||CCC Full Form|
|India Full Form||AMC Full Form|
|DSP Full Form||USP Full Form|
|HR Full Form||SDM Full Form|
|PSU Full Form||ECS Full Form|
|GATE Full Form||IEEE Full Form|
FAQs Related to TCS Full Form:
What is Full Form of TCS in English?
The TCS full form is Tax Collection at Source. This tax apply on the goods only. When buyer buy the goods from the seller and different goods have different tax collection. It is depend on the product.
What is the full form of TDS in English?
The TDS full form is Tax Deduction at Source. This tax apply on the transaction like salary, rent, commission, professional fee, brokerage, etc, when it is exceed certain limit.
Who is the owner of Tata Consultancy Service (TCS)?
Tata sons is the owner of tata consultancy service.
What is the TCS full form in IT company?
The TCS full form is TATA CONSULTANCY SERVICE. It is largest IT software development company in India. There are total 4.5 lakh employees are working and 36 percentage are women.
Conclusion of TCS Full Form:
We are tried our best to give the information about TCS full form and hope this information is helpful and informative.