Tcs applicability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 September 2015 TURNOVER OF MY FIRM,SCRAP DEALER IS 83 LACKS

IT IS NOT LIABLE TO AUDIT

TCS HAS NOT BEEN COLLECTED FROM BUYER .

INCOME TAX RETURN FILED U/S 44AD ABOVE 8 %

WHAT LIABILITY OF TCS WILL ARISE ON US.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 September 2015 No TCS applicable if you are selling to manufacturer, it is applicable to you if you are selling the scrap to another dealer.

Querist : Anonymous

Querist : Anonymous (Querist)

22 September 2015 MY FIRM SALE SCRAP ANOTHER DEALERS
NOT MANUFACTRUR
IF SALES MANUFATURER HE GIVE FORM 27 C

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 September 2015 Iy you are a partnership firm TCS applicable to you. If you are individual your turnover is less than 1 crore TCS not applicable to you.