Would like to know If Tax collected at Source is implemented in QBs?

Good day, raghuvir.pujar.

Let me share some insights regarding Tax Collected at Source (TCS) in QuickBooks Online. This tax is calculated based from the Sales value. With that said, it's not automatically calculated. You may want to add a line item for the calculation and enter manually the calculated TCS deduction.

Please check this out on how to add product and service items to QuickBooks Online for the detailed steps. Once done, you can apply the TCS deduction item on your purchase bill. 

Since the option to automatically calculate TCS isn't available in QBO yet, I encourage you to visit our QuickBooks Blog regularly. From there, you'll be updated with the features and enhancements that our developers are currently working on.

I've also added this article on how to set up TDS for future reference. 

You can post anytime here if you have any questions concerning tax or  any QuickBooks related concerns.

Dear Sir,

You would need to create a custom tax in qb and depending upon the rules you will have to create the a group rate. These setting are there in Taxes , Add tax menu.

Please let me know if you have queries. 

Alok Shah

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