How will the entry for TCS charged o bills be done? As per the recent amendment applicable from Oct-2020.

Hello, geetika.

QuickBooks Online doesn't support TCS yet. However, I do have a workaround to help you enter it for the bills in QuickBooks. 

Entering the TCS charges on bill is done manually in QuickBooks Online. Generally, you'll want to create a custom tax rate (if you have a different percentage) then map it to a service. Finally, add the TCS service to your bill. 

Adding a custom tax rate (do this if you have a different percentage calculation): 

1. Go to Taxes, then click the Add tax button. 
2. Choose Tax rate.
3. Enter a name and description.
4. Choose the agency for the tax rate.
5. Check the Purchases box. 
6. Enter a rate, then choose the account where you want to map it. 
7. Once done, click Save. 

Creating a service item:

1. Click the gear icon, then choose Products and services.
2. Hit the New button, then select Service. 
3. Enter a name of the service.
4. Once done, check the box under Purchasing information.
5. Under Purchasing tax, select the tax rate you've created.
6. Add other important details.
7. When you're done, click Save and close.

You can start using this service on a purchase bill. You can check this published content for a guide if you need help creating it: How to Create a Purchase Bill in QuickBooks?.

In terms of how you map it to your liabilities and other accounts, I recommend consulting an accountant. They can help you ensure your books are correct when recording the bills and make sure you're compliant with the TCS regulations. 

If you're looking for important pointers and guides on using the features in QuickBooks Online, you can browse for an article here. 

I can give you a guide or two if you have other questions or concerns. Just let me know the details below and I'll get back to you.