How to: Set Up Nature of Collections

You must define the Tax Collected at Source (TCS) nature of collections as one of the prerequisites to calculate TCS. For more information, see How to: Set Up Tax Collected at Source.

To set up nature of collections for tax collected at source

1. In the Search box, enter TCS Nature of Collections, and then choose the related link.

2. On the Home tab, choose New.

3. Fill in the fields as described in the following table.

   Field	Description
   Code	The unique code for the TCS nature of collection.
   Description	The code description for the TCS nature of collection.
   TCS Type	The type of tax collected at source.

4. Choose the OK button.

See Also

Tasks

How to: Set Up Tax Collected at Source
How to: Set Up Nature of Collection Lines
How to: Set Up Nature of Deductions

Concepts

Income Tax Overview