How to setup tax collected at source?

Hi there, praveenkrishnag.

I'm here to share information about Tax Collected at Source (TCS) in QuickBooks Online (QBO). 

To record the TCS, you can add a line item in your bill or expense transactions. To do this, you'll need first to create an item that represents TCS by following the steps below:

1. In the left menu, click Sales.
2. Select the Products and services tab.
3. Click New. 
4. Choose Non-inventory or Service.
5. Fill in the information needed.
6. Click Save and Close.

For more information about adding product and service items, see this article: Add Product and Service Items to QuickBooks Online.

Here are also some resources which you may find helpful in the future:

• Manage Tax Payments in QuickBooks Online
• File Your Tax Return and Record Tax Payment in QuickBooks Online

If you need anything else, feel free to comment down below. I'm here to answer it for you. Have a good day.