Ch 6 · TDS, TCS & Advance Tax

5 concept points · 3 formulas · 4 exam-critical points.

📘 Core concepts

• 1TDS sections (Sec 192-196) cover salary, interest, contractor, professional fee, rent, etc.
• 2TCS (Sec 206C): collected by seller — scrap, motor vehicles, foreign remittance, overseas tour.
• 3Threshold limits and rates vary by section (e.g., 194A interest > ₹40,000 / ₹50,000 senior).
• 4Sec 206AB / 206CCA — higher TDS/TCS for non-filers of returns (twice the rate).
• 5Advance tax (Sec 208): payable if liability > ₹10,000; quarterly instalments.