TCS Summary Report

Indian Income Tax act has provisions for tax collection at source. In these provisions, certain persons are required to collect a specified percentage of tax from their buyers on exceptional transactions. Most of these transactions are trading or business in nature. It does not affect the common man. Tax collected at source (TCS) is the tax payable by a seller which he collects from the buyer at the time of sale. Section 206C of the Income-tax act governs the goods on which the seller has to collect tax from the purchasers.

TCS Summary Report in Accoxi

ACCOXI is the most modern accounting software that provides easy and deliberate results for accounting. It provides a separate section of Reports; TCS Summary Report is available under the Accounts Head. This report shows all the TCS-related information. It consists of various sections, Total tax collected at source, Total after TCS deduction, etc. during a particular period. Users can create and manage various TCS sections under the Settings -> TCS Configuration.

To access the TCS Summary Report:

Go to reports Section
Click on the Accounts head and select the option TCS Summary.

Menu Available in TCS Summary Report

Field	Description
Customize	The user has the flexibility to tailor the report data by clicking on this button. Data filtration is possible based on date period.
Export To Excel	By clicking this button, users can export the report to excel.
Export To PDF	Clicking this button allows the user to export the report to pdf.
Print	This button enables users to print the TCS summary report.
Email	To send the report via email, simply click this button. The report in pdf format will be attached to the email, and you can input the recipient's email address, cc address, subject, and any additional details for the email.
Pagination	The pagination control offers the capability to navigate from one page to another.
Exit	Clicking the 'exit' button allows the user to exit from the report.

Data Available in TCS Summary Report

Field	Description
#	The symbol '#' represents the number of lines in the given context.
TCS Section	This column shows the TCS sections of the collected tax, user can access the TCS section details by clicking on the field. Then the detailed information of the TCS section will appear and it will contain: each transaction wise TCS details.
Total Tax Collected at Source	Total TCS amount calculated for the section is indicated here.
Total After TCS Deduction	Total invoice amount calculated after considering the TCS amount is showing here.
Total	Total invoice amount before calculating the TCS amount is showing here. TCS amount is calculated on this amount.

Frequently Asked Questions?

01What type of data are included in the TCS summary report in ACCOXI?

ACCOXI is the most modern accounting software that provides easy and deliberate results for accounting. It provides a separate section of Reports, TCS Summary Report is available under the Accounts Head. This report shows all the TCS-related information. It consists of various sections, Total tax collected at source, Total after TCS deduction etc. during a particular period. Users can create and manage various TCS sections under the Settings -> TCS Configuration.

02How can I take a printout of the TCS summary report?

Click on the Reports module.
Select the option TCS summary from the Accounts head.
At the right-hand side of the report, there is a Print.
Click on the Print button and it opens the print view form.
You can set the page range, page height, width and can enter the required number of copies here.
Click on the Print button to get the printout of the report.

03How can Export the TCS summary report?

Click on the Reports module.
Select the option TCS summary from the Accounts head.
At the right-hand side of the report, there is an export button.
select the file location and click on save button

04What is the use of customize report option in the TCS summary report?

ACCOXI provides the module of Reports and TCS summary report included in it. In the report, customize option helps you to filter the data by a particular date. By clicking on the customize report, you can filter the report by entering the starting date along with the end date, and then the tax details of the transactions will appear on the basis of the date entered.

05What data represents in the Total tax collected at the source column in the TCS summary report?

ACCOXI provides the module of Reports and TCS Summary report included under the Accounts head. The column of Total tax collected at source shows the total amount of tax collected at source under each section. You can access the TCS details by clicking on the field. To check the TCS details of an invoice, click on the Tax Collected at Source section field. While clicking on the field, a new tab will appear with the whole details of TCS.