What will I learn in this course?

You’ll learn TCS concepts, applicable provisions, transaction recording, payments, interest, reporting, reconciliation, and e-Return-related processes using TallyPrime.

Does the course include practical activities?

Yes. The course includes practical scenarios, practice assignments, dialogues, and assessments to help you reinforce your understanding of TCS concepts and processes.

What will I be able to do after completing this course?

You’ll be able to manage TCS-related transactions, payments, reporting, reconciliation, and return-related activities more confidently using Tally and TallyPrime.

What will I get if I subscribe to this Specialization?

When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile.

Is financial aid available?

Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

Tax Collected at Source (TCS): Concepts and Compliance

Tally Education and Distribution Services Private Limited

Tax Collected at Source (TCS): Concepts and Compliance

This course is part of Advanced Indian Taxation: GST, TDS & TCS for Professionals Specialization

Instructor: Tally Education and Distribution Services Private Limited

Included with Learn more

5 modules

Gain insight into a topic and learn the fundamentals.

Intermediate level

Recommended experience

7 hours to complete

Flexible schedule

Learn at your own pace

5 modules

Gain insight into a topic and learn the fundamentals.

Intermediate level

Recommended experience

7 hours to complete

Flexible schedule

Learn at your own pace

What you'll learn

Understand TCS concepts, applicable provisions, and compliance requirements.
Record and manage TCS transactions, payments, interest, and reporting in TallyPrime.
Prepare TCS return information, including Form 27EQ, and manage TCS compliance processes.

Skills you'll gain

Tools you'll learn

Accounting Software

Details to know

Shareable certificate

Add to your LinkedIn profile

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Build your subject-matter expertise

This course is part of the Advanced Indian Taxation: GST, TDS & TCS for Professionals Specialization

When you enroll in this course, you'll also be enrolled in this Specialization.

Learn new concepts from industry experts
Gain a foundational understanding of a subject or tool
Develop job-relevant skills with hands-on projects
Earn a shareable career certificate

There are 5 modules in this course

This course provides a practical, end-to-end guide to Tax Collected at Source (TCS) compliance in India, with a strong focus on implementation in Tally and TallyPrime. You begin by understanding the core concepts, purpose, and statutory framework of TCS, including key provisions, roles (collector and collectee), applicable transactions, and the interaction of TCS with related sections such as 194Q and 206CCA. The course also covers essential compliance elements—forms, challans, due dates, and interest on delayed deposits—so that you can map legal requirements to day-to-day accounting workflows.

Building on this foundation, you configure TCS in Tally/TallyPrime, set up the necessary ledgers and masters, and record TCS-compliant sales transactions using appropriate voucher structures and statutory settings. You practice handling accrual-based sales of TCS goods, fixed asset purchases from the collectee perspective, TCS on transfer of right to use, advance receipts and their adjustment against final bills, and special-rate scenarios such as lower/nil TCS certificates and higher rates under Section 206CCA. You then process TCS payments, compute and record interest on delayed deposits, and pass statutory payment entries while verifying allocation across TCS categories. Finally, you generate, review, and reconcile TCS reports, prepare and export e-returns in Form 27EQ, and maintain the collectee’s books by treating TCS as a recoverable tax credit, enabling you to manage the full TCS lifecycle from transaction recording through payment, reporting, and return filing.

In this module, you'll explore the foundational concepts and legal framework of Tax Collected at Source (TCS). We'll connect statutory rules with practical accounting tasks, helping you understand when and how TCS applies. You'll also learn to configure TCS settings in Tally/TallyPrime, setting you up for accurate and compliant transaction processing.

What's included

2 videos2 readings2 assignments

2 videosTotal 12 minutes

Introduction & Basic Concepts of TCS6 minutes
TCS in TallyPrime: Activation of TCS in TallyPrime5 minutes

2 readingsTotal 35 minutes

Introduction & Basic Concepts of TCS15 minutes
TCS in TallyPrime: Activation of TCS in TallyPrime20 minutes

2 assignmentsTotal 35 minutes

Check Your Understanding: TCS Fundamentals20 minutes
Module Assessment - Understanding TCS Fundamentals and Setup15 minutes

This module guides you through the essential TCS transaction processes you'll encounter in accounting practice. You'll learn to record compliant sales, handle accrual-based collections, and manage fixed-asset purchases with TCS. We'll also cover how to apply lower, nil, and higher TCS rates, ensuring you can confidently handle both routine and special cases in Tally/TallyPrime.

What's included

6 videos4 readings3 assignments

6 videosTotal 25 minutes

Recording TCS-Compliant Transactions1 minute
Understanding Sale of TCS Goods (Accrual Method)1 minute
Recording Sale of TCS Goods (Accrual Method)7 minutes
Purchase of TCS Goods – Fixed Assets5 minutes
Sale of TCS Goods at Lower Rate/Nil Rate10 minutes
Sale of TCS Goods at Higher Tax Rate (Under Section 206CCA)2 minutes

4 readingsTotal 35 minutes

Recording TCS-Compliant Transactions5 minutes
Recording Sale of TCS Goods (Accrual Method)10 minutes
Sale of TCS Goods at Lower Rate/Nil Rate10 minutes
Sale of TCS Goods at Higher Tax Rate (Under Section 206CCA)10 minutes

3 assignmentsTotal 45 minutes

Practice: Recording Basic TCS Transactions10 minutes
Practice: Applying Lower and Higher TCS Rates15 minutes
Module Assessment: Recording Basic TCS Transactions and Rate Applications20 minutes

In this module, you'll dive into special TCS situations that require careful attention and judgment. We'll cover exemptions when buyers deduct TDS, transactions involving transfer of the right to use, and advance receipt scenarios. These lessons will help you apply TCS rules accurately in complex but common accounting situations.

What's included

3 videos3 readings2 assignments

3 videosTotal 20 minutes

Accounting TCS Exemption for Buyers Deducting TDS8 minutes
TCS on Transfer of Right to Use5 minutes
TallyPrime: TCS on Advance Receipts & Adjusting Advances to Sales (Scrap, 1% TCS)7 minutes

3 readingsTotal 30 minutes

Accounting TCS Exemption for Buyers Deducting TDS10 minutes
TCS on Transfer of Right to Use10 minutes
TallyPrime: TCS on Advance Receipts & Adjusting Advances to Sales (Scrap, 1% TCS)10 minutes

2 assignmentsTotal 50 minutes

Practice: Accounting for TCS on Advance Receipts, Transfer of Right to Use & TCS Exemption for Buyers Deducting TDS 20 minutes
Practice: Handling Special TCS Transactions and Compliance Adjustments30 minutes

This module focuses on the critical compliance activities following TCS collection. You'll learn to record payments to the Income Tax Department, calculate and account for interest on delayed deposits, and use TCS reports to monitor return readiness and reconcile challan details. These skills are essential for maintaining accurate and complete compliance records in Tally/TallyPrime.

What's included

3 videos3 readings2 assignments

3 videosTotal 17 minutes

TCS Payment to Income Tax Dept (TallyPrime): Recording, Form 27EQ & ITNS-2818 minutes
Interest Payment to the Income Tax Department on Delayed TCS Tax Payment4 minutes
TCS Reports 5 minutes

3 readingsTotal 30 minutes

TCS Payment to Income Tax Dept (TallyPrime): Recording, Form 27EQ & ITNS-28110 minutes
Interest Payment to the Income Tax Department on Delayed TCS Tax Payment10 minutes
TCS Reports 10 minutes

2 assignmentsTotal 35 minutes

Practice: Recording TCS Payments15 minutes
Module Assessment: Managing TCS Payments and Reports20 minutes

In this final module, you'll bring together all aspects of TCS compliance, from preparing and filing e-returns to maintaining collectee-side accounting records. You'll understand how to connect transaction recording, payment processing, reporting, and tax-credit recognition into a seamless compliance workflow, ensuring you can manage the full TCS cycle confidently.

What's included

3 videos3 readings2 assignments

3 videosTotal 11 minutes

E-Return5 minutes
Maintaining Books of Accounts as a Collectee5 minutes
TCS Conclusion1 minute

3 readingsTotal 35 minutes

E-Return10 minutes
Maintaining Books of Accounts as a Collectee15 minutes
TCS Conclusion10 minutes

2 assignmentsTotal 30 minutes

Final Assessment: Tax Collected at Source (TCS)10 minutes
Module Assessment: TCS Returns and Collectee Accounting20 minutes

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Instructor

Tally Education and Distribution Services Private Limited

12 Courses88,692 learners

Offered by

Tally Education and Distribution Services Private Limited

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Frequently asked questions

This course is designed for learners who want to understand TCS concepts, compliance requirements, and their practical implementation using Tally and TallyPrime.

No. The course starts with the fundamentals of TCS and gradually introduces transaction recording, compliance, reporting, and return-related processes.

Basic accounting knowledge and familiarity with TallyPrime may add value to your learning experience, but prior TCS experience is not required.

To access course materials, assignments, and earn a Certificate, you'll need to purchase the Certificate experience when you enroll in a course. Eligible learners may also have the option to start with a Free Trial. Some courses may also offer a Full Course, No Certificate option. This lets you access course materials, submit required assessments, and receive a final grade, but you won't be able to earn or purchase a Certificate.