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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.

TCS Summary

It shows the details of the TCS section, the total tax collected at the source, and the total after TCS deduction.

Field	Description
Customize Report	User Can Filter The Report Data By Using Customize Report Menu. User Can Filter The TCS Summary By Using The Option Date In The Customize Menu. By Clicking The By Date Option, Need To Enter 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. By Clicking On APPLY, Users Get The Customize Report Based On Data Entered.
Print	If The User Wants To Take The Print Out Of The Report, It Can Be Done By Using The option Print On The Top Right Side Of The Page. When The User Clicks On The Print option, It Opens To Report View Page And It Contains The Detailed information of the report. User Can Set The Page Range, Page Height, and Width And Can Enter The Required Number Of Copies Here. By Clicking On The Print Button, User Gets The Print Out Of The TCS Summary Report.
Export	To export the TCS Summary report into excel format click on the export button and the user can save the report on your PC
E-Mail	To share the report using EMAIL use the Email button and user can enter the “To, CC, Subject” Etc. and the TCS summary report will be automatically attached with the mail.
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	This Column Shows The Total Amount Of Tax collected At Source Under Each Section.
Total After TCS Deduction	This Column Shows The Total Invoice Amount after the TCS collection
Total	It Shows The Total Amount Of The Invoice, User Can Access The Total Amount Details By Clicking On The TCS section. While Clicking On The Field, A New Tab Will Appear With The Complete Details Of TCS.

MENUS AVAILABLE IN PRINT VIEW

FIELD	DESCRIPTION
Pagination Control	It Controls The Page Navigation. Users Can Select The Page By Using The Page Control Keys Or Can Enter The Page Number In The Given Box. After Entering the Page Number, It Will fetches the required page.
Page Setup	This Menu Helps The User To Set The Page Size, Page Orientation, And Margin Size. By Clicking On The Page Setup Icon, A New Tab Will Appear And User Can Select The Page Size, Orientation And Margin Size With The Tab.
Switch to Interactive Layout	It Helps The User To Change The Page To Interactive Layout. Click the same button again to switch back to print view.
Zoom	User Can Use the Zoom Option to Select the Required Zoom Size to view. By Clicking On The Select Option, Available Zoom Size Will Appear And Can Select Required Size.
Print	By Clicking On The Print Button, User Gets The Print Out Of The Report.
Export	Export Menu Enable The User To Export The Report To PDF Format And Can Save In The System. When The User Click On The Export Menu, A New Tab Will Appear For Saving The File. Then User Can Select The Location To Save The File, Can Set A Name And Click On Save Button To Save The File As PDF Format.
Exit	Exit Menu Is For Exit From The Print Report Page And It Redirects To Previous Page.

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.