The DAC in the link is very inexpensive for what it is. Its not great shakes as a DAC, there are certainly much better ones out there, but nothing anywhere near that price!
You will need a box to put the board in and power transformer, power cord and fuse.
The only compatibility issue i sthat you need to make sure your TV is set to output stereo on the digital out, not Dolby Digital or DTS. There will most likely be an item for this somewhere in the menus.
John S.