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TCS (Tax Collected at Source) is a type of tax that certain sellers have to collect from the buyer at the time of sale of specific goods or while providing certain services. After collecting this tax, the seller must deposit it to the government and file a TCS return in Form 27EQ every quarter.
TCS is applicable on the sale of things like scrap, timber, coal, minerals, alcohol, motor vehicles above Rs. 10 lakhs, and even foreign remittances or tour packages under certain conditions.
Just like a TDS return is filed for tax deducted, a TCS return filing is done to report the tax collected from buyers. This helps the Income Tax Department track whether taxes have been collected and paid properly, and it ensures the buyer gets TCS credit in their Form 26AS.
The return contains details like PAN of buyer and seller, amount of sale, TCS collected, date, challan info, and is filed quarterly using Form 27EQ. Failing to file on time or filing it wrong can lead to penalties of Rs. 200/day, interest, or notices.
At CallMyCA, we take care of your complete TCS compliance, including accurate return filing, challan checking, PAN validation, and Form 27D (TCS certificate) generation. Whether you're a regular TCS collector or just starting, we handle it all smoothly and quickly.
We file your return on time so you don’t pay Rs. 200 per day or face legal issues.
We verify challans, PANs, and TCS sections to make sure everything is perfect.
If you’re new, we help you apply for TAN and understand your responsibilities.
We manage all four quarters and send reminders, so you never miss a deadline.
Filing is done in 24–48 hours after receiving documents, fast and hassle-free.
Made a mistake in a past filing? We help correct and revise TCS returns professionally.
We generate and send valid TCS certificates to give to your buyers.
We provide an annual report of all TCS collected and filed for your business records.
Share everything on WhatsApp or email—no paperwork, no visits.
If you sell certain specified goods (like scrap, alcohol, minerals, timber, luxury cars) or collect on foreign remittances or tour packages, and your turnover crosses limits set under Income Tax, you must collect TCS and file quarterly returns. This is mostly applicable to traders, exporters, travel agents, car dealers, etc.
TCS returns are filed using Form 27EQ, and they must be submitted every quarter online on the TIN-NSDL or TRACES portal. Each entry must be correct, or you might face rejection.
TCS returns must be filed quarterly:
No, TAN is mandatory to file a TCS return. If you don’t have one, we help you apply for TAN in 1 day.
Form 27D is the TCS certificate that the seller gives to the buyer after filing the return. It shows how much TCS was collected, deposited, and under which section. This helps buyers claim credit in their ITR.
You may face:
Yes. If any PAN, challan, or TCS amount was wrongly entered, you can file a correction return. We help with the full correction and resubmission process.
It is not compulsory, but using a Digital Signature Certificate (DSC) is recommended for large entities and avoids any mismatch or manual rejections.
TDS is tax deducted while making a payment, whereas TCS is tax collected at the time of sale. Both are advanced tax collection methods, but their rules and forms are different.
Once you share all documents, we file your TCS return within 24–48 hours and also help generate Form 27D for your buyers.
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